nib holdings limited has appointed former Bupa Asia-Pacific chief executive Hisham El-Ansary as an independent non-executive director following the retirement of long-serving director Donal O’Dwyer and the release of its FY25 financial results.
nib has named Hisham El‑Ansary to its board as an independent non‑executive director, effective Dec. 2. El‑Ansary currently sits on the RACV board as a non‑executive director and is an adviser to Goldman Sachs in Asia-Pacific. He has previously served on the Healthscope advisory board and held senior roles at Bupa, including chief executive officer of Bupa Asia-Pacific and chief financial and strategy officer for Bupa Australia and New Zealand.
At Bupa Asia-Pacific, El‑Ansary led a business generating more than $10 billion in revenue across Australia, New Zealand, and Asia, and has more than 30 years’ experience in executive roles across healthcare, insurance, retail, aviation, and construction consulting in the region.
nib chair David Gordon said El‑Ansary’s background aligned with the group’s operating footprint and industry focus. “Hisham brings relevant and diverse skills and experience to the nib board, including his senior executive experiences in large commercial and healthcare businesses. We look forward to working with him,” he said.
The appointment is part of nib’s ongoing board renewal and succession planning. El‑Ansary will stand for election at the 2026 annual general meeting.
The board changes follow the retirement of non‑executive director Donal O’Dwyer. O’Dwyer, who joined the nib holdings limited board in March 2016, stepped down as a non‑executive director of both nib holdings limited and nib health funds limited at the conclusion of the Nov. 6 annual general meeting. He was a member of the audit committee, people, and remuneration committee and nominations committee.
Gordon commented: “Donal has made a substantial contribution to nib. He has spent more than 35 years in senior executive and non-executive director roles in the global health industry and has been an outstanding and highly valued nib committee member, over almost a decade on the board. I thank Donal for his commitment, and we wish him the best for the future.”
During the latest annual general meeting, Gordon said FY25 saw nib concentrate on its core private health insurance (PHI) businesses in Australia and New Zealand, with a focus on portfolio performance, customer value, and returns to shareholders. Across those markets, nib now covers almost two million PHI customers. In Australian residents’ health insurance, policyholder growth was 3.2% in FY25, above the industry average of 2.2%. The group reported a net promoter score of 34.
On the claims side, nib incurred $2.7 billion in PHI claims during FY25. The group funded about 390,000 hospital admissions in Australia, 5% higher than the previous year, and 4.3 million ancillary visits, such as dental and optical services. Through its nib Thrive plan management business, it supported more than 43,000 NDIS participants, processing 96% of their claims within one day of receipt.
Gordon noted elevated health cost and claims inflation, particularly in New Zealand, and outlined nib’s push to manage its cost base and contracting positions. “In FY25, the public and private health sectors recorded another year of high costs and claims inflation, in Australia and especially in New Zealand, where double-digit price increases were felt across the health economy,” he said.
Gordon described private hospital contracting as central to balancing affordability for members with the financial sustainability of hospital operators, noting that about 55% of Australians hold PHI and that PHI pays for around two in three elective surgeries. He cited Australian Prudential Regulation Authority (APRA) data showing health funds paid $12.4 billion to private hospitals in FY25, up 6.4%, with nib contributing more than $1 billion directly to hospitals and over $240 million through risk equalisation.
For FY25, nib reported net profit after tax of $198.6 million, up 9.4% on FY24. Group revenue increased 7.8% to $3.6 billion, supported by PHI portfolio expansion. Underlying operating profit was $239.2 million. The board declared a final dividend of 16 cents per share, lifting the fully franked full‑year dividend to 29 cents per share and equating to a payout ratio of 70.6%. nib’s group operating expense ratio fell by 50 basis points to 17.7%.
Chief executive Ed Close said the Australian residents’ PHI portfolio recorded its highest sales result to date, with latest sales up 13% year on year. Net policyholder growth of 3.2% again exceeded sector growth of 2.2%, with net margins managed within the stated 6% to 7% target range.
Close said nib’s new group strategy is built around four priorities:
nib expects a higher group underlying operating profit in FY26, underpinned by continued strength in Australian PHI, a forecast return to full‑year profitability in New Zealand, and contributions from adjacent businesses. “FY25 was a year of discipline and strong momentum across our core and adjacent businesses. nib Group is well positioned to deliver consistently strong outcomes for all stakeholders in FY26 and beyond,” Close said.
