0005 GMT - Medibank Private's policyholder growth was the biggest letdown in its 1H result for Citi, which questions whether the Australian health insurer can improve it. Medibank said net resident policyholder growth was 0.9% in 1H, well shy of its target of growing in line with system, analyst Nigel Pittaway says. Medibank's new goal is to grow in line with the market in 2H, and expand its share of the market in FY 2026. "Given its recent growth struggles, we remain a little skeptical of this," Citi says. Still, Citi says Medibank's decision to return another A$160 million to customers as part of its Covid-19 support package should help. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 27, 2025 19:05 ET (00:05 GMT)
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