More than a billion dollars was added to the value of ASX-listed...

More than a billion dollars was added to the value of ASX-listed health insurers Medibank Private and NIB on Monday after the Coalition's election victory removed the threat of a cap on premium increases as promised by Labor. The Labor opposition had promised that, if elected, it would immediately establish a Productivity Commission inquiry, as well as impose a 2 per cent cap on annual premium increases for two years.With the Scott Morrison-led Coalition now tipped as likely to form a majority government investors sent Medibank shares soaring more than 11 per cent to $3.20 by late Monday morning.