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NIB Holdings Limited (ASX:NHF) will join with Apia in a distribution alliance to sell private health insurance.
The company says the alliance will help it tap into the over 50s market when it offers Apia branded private insurance that is tailored to the over 50s which represents some 37 per cent of total private health insurance.
Group Manager Rhod McKensey says the new offering will be tailor made and won’t include benefits that over 50s don’t need.
Mr McKensey says the alliance provides a solid platform to expand market share into a very attractive and growing segment.
NIB reported a net profit of $39.6 million in the first half of the 2014 financial year.
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