Markets

Medibank has lost a defence contract, and its shares are tanking

Medibank says it has been verbally informed that it hasn’t been re-awarded a defence contract. The operating profit from the Garrison Health Services contract is about $30 million. The current contract ends in June 2019. Shares in Medibank are lower today after the health insurer announced it had lost a […]
Medibank has lost a defence contract, and its shares are tanking
Markets

Medibank increases its market share but profit drops

Medibank full year net profit after tax $445.1 million, down 1%. Market share 26.9%, up five basis points. Overall revenue $6.9 billion, up 1.6%. Health insurer Medibank posted a 1% fall to $445.1 million in full year net profit after tax despite the first lift in market share in a […]
Medibank increases its market share but profit drops
Markets

Medibank has been hit by higher health insurance claims

Claims on health insurance are growing faster than the premiums gathered by Medibank. Medibank’s half-year profit was up 1.9% to $231.9 million mainly due to strong investment income offsetting lower operating profit for its health insurance business. The result was within expectations. Premium revenue for the six months to December […]
Medibank has been hit by higher health insurance claims
Markets

Medibank’s revenue growth is sliding

Medibank Private says premium revenue grew below expectations, at just 1.3%, for the first four months of the financial year. The weaker growth is expected to continue at Australia’s largest health insurance provider, according to an update given to the AGM. “Looking to the 2017 financial year, I expect that […]
Medibank’s revenue growth is sliding
Markets

Medibank Private has $170 million to invest in anything but tobacco and bombs

Medibank Private just seeded a new fund which excludes investment in “tobacco and controversial weapons” with $170 million. Benchmarking is a very important part of performance measurement in the money management industry. It’s how money managers, and their clients, assess the performance of the fund, and the manager. But benchmarks […]
Medibank Private has $170 million to invest in anything but tobacco and bombs
Markets

Medibank’s profit rises 46%, but its shares fall

Medibank kept a lid on health insurance payouts to deliver a 46.4% rise in full year profit to $417.6 million, just below market expectations. The rate of growth in health claims was limited to 1% for a total of $5.1 billion. At the same time, health insurance premium revenue rose […]
Medibank’s profit rises 46%, but its shares fall
Markets

Tax return cheques could be delayed by a Medibank data stuffup

Annual tax returns for hundreds of thousand of Australians could be delayed by a technical issue at Medibank. Medibank says it won’t be able to get annual statements, needed to be included in tax returns to avoid an extra Medicare levy, to the majority of Medibank customers by July 15. […]
Tax return cheques could be delayed by a Medibank data stuffup