NIB Holdings (NHF)

NIB Holdings (NHF) provides a range of private health insurance products including ambulance cover, extras cover including dental, optical, physiotherapy and natural therapies and hospital cover to singles, couples and families. NHF also offers travel insurance to its customers, in partnership with QBE. In FY08 the company launched a life insurance product in partnership with TOWER Australia. NHF operates retail, dental care and eye care centres in Australia and is headquartered in Newcastle. The company was established as Newcastle Industrial Benefits (nib) Hospital Fund in 1952 by workers at BHO Steelworks, Mayfield. In 1953 the Newcastle Industrial Benefits Medical Fund was established. Newcastle Industrial Benefits changed its name to NIB Health Funds Ltd in 1977. The company demutualised in October 2007 and listed on the ASX in November 2007 as NIB Holdings Ltd. In 2009 NHF entered into an alliance with NAB under which NHF will offer NAB customers health insurance products. NHF's pursues policyholder growth through investment in marketing, advertising and other initiatives to increase brand awareness, such as sponsorship of the 2008 NSW State of Origin team. The company launched a new brand campaign in July 2007 focusing on the value of private health insurance and targeting the young Australian market. The 'it's worth it' tagline which was introduced in FY08 differentiates NHF from its competitors and is specifically aimed at reinforcing value for money. NIB Holdings's customers are its policy holders. NHF has more then 350,000 policy holders and provides cover to over 700,000 people in Australia including singles, couples and families. NHF's competitors include other private health insurance providers including Medibank Private, HCF, ahm, HBA, Australian Unity, GMF Health, Health Partners, Latrobe Health Services, rthealth and Teachers' Union Health (TUH). The Company’s subsidiaries include nib servicing facilities pty limited, nib health care services limited and The Heights Private Hospital pty limited. As of June 30, 2009, the Company’s subsidiary, nib health services limited, was under liquidation.