Tiger Brokers

Nib Holdings Completes Sale of Travel Insurance Businesses

MT Newswires Live
Yesterday

Nib Holdings (ASX:NHF) has completed the sale of its Australian and New Zealand travel insurance businesses to Allianz Partners, effective Sept. 17, and its World Nomads international travel insurance business to International Medical Group, effective Wednesday, according to a Thursday Australian bourse filing.

The transactions generated AU$97.6 million in cash consideration, with up to an additional AU$10 million in deferred consideration potentially payable in fiscal 2028, per the filing.

The proceeds will be used in part to fund a special dividend of AU$0.05 per share, payable to shareholders on Oct. 7, with further capital management options available, the filing added.

The company's shares fell 2% in recent Thursday trade.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10