nib Health Funds

In 2007, eligible policyholders and company members voted in favour of demutualisation of the health fund. The Federal Court of Australia approved the demutualisation on 5 November 2007. Later that day, nib became the first private health insurance fund to list on the Australian Securities Exchange (ASX).[4][5]

In 2010, nib set about expanding globally, purchasing IMAN International Pty Ltd, a specialist provider of health cover for temporary migrant workers in Australia for approximately $25 million.[6] In 2012, they acquired the New Zealand health insurer, TOWER Medical Insurance, from Tower Insurance, for approximately NZ$102 million (A$80 million).[7] As of 2012, nib New Zealand was the country's second largest health insurer, providing health and medical insurance to around 160,000 New Zealanders.[8]

In 2013, nib launched Whitecoat Health Service Directory, a free online search and comparison service.[9] The site has been likened to being the TripAdvisor of the healthcare sector.[10] While popular with consumers, the service has received significant criticism from doctors and medical groups.[11][12][13]

In 2014, nib entered a distribution alliance with Suncorp subsidiary Apia to sell private health insurance under the Apia brand.[14] Later that year, nib partnered with global medical insurer AXA PPP International in launching a global health cover pilot product in New Zealand.[15]

In 2016, nib announced the acquisition of World Nomads Group, Australia's third-largest distributor of travel insurance, for $95 million.[16] In 2019, nib rebranded World Nomads Group to nib Travel. The following year they acquired GU Health, Australia's only established specialist corporate group health insurer, for $155.5 million.[17]

In 2019, nib acquired QBE’s travel insurance business, QBE Travel, as part of its World Nomads Group expansion. nib also announced a partnership with Tasly, a Chinese pharmaceutical company.