AUS
NZ
UK
CA
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IND
Highlights
- NPAT reaches $231.5 million.
- Premiums grow while insurance revenue contracts.
- Expanded dividend and share repurchase program announced.
Helia Group Limited (ASX:HLI) has reported strong financial performance for the fiscal year ending 31 December 2024, demonstrating a resilient business model and a clear focus on strategic initiatives. The company achieved a statutory net profit after tax (NPAT) of $231.5 million, while its underlying NPAT stood at $220.9 million. The higher statutory NPAT was mainly driven by pre-tax mark-to-market unrealised gains on infrastructure and equity investments.
During the period, gross written premium increased by 6% to $195.6 million, reflecting growth in the core insurance business. In contrast, insurance revenue declined by 9% to $389.2 million. This shift can be attributed to variations in claims experience, as total incurred claims remained unusually low over both FY23 and FY24, resulting in a reduced benefit from negative claim totals compared to the prior period.
Executive leadership expressed satisfaction with the company’s financial and capital strength, which continues to create opportunities to support customers, fund strategic projects, and engage in disciplined capital management. The emphasis has been on enhancing the market for lenders mortgage insurance (LMI), with efforts directed toward growing and defending market share through a differentiated service approach. The company’s commitment to accelerating financial wellbeing through home ownership remains central to its long-term strategy.
In addition to its operating performance, Helia Group declared a fully franked final ordinary dividend of 16.0 cents per share and a fully franked special dividend of 53.0 cents per share. These dividends are scheduled for payment on 3 April 2025, to shareholders recorded as at 20 March 2025. The company also executed on-market share repurchases totaling $113.4 million during FY24, resulting in a 9.4% reduction in its share count. An increase in the share repurchase program has been announced, with a further allocation of $200 million and $121 million remaining available, underscoring a commitment to returning capital to shareholders.
Strategic progress was further evidenced by maintaining a 100% contract renewal rate in 2024, thereby assisting over 31,000 Australians in achieving home ownership. The launch of the multi-year “LMI Lets Me In” program has enhanced market awareness and understanding of LMI benefits. Furthermore, ongoing engagement with Federal Government stakeholders is paving the way for addressing policy impacts and uncovering opportunities for future improvements in the LMI sector.
Looking ahead, the company anticipates FY25 insurance revenue to range between $310 million and $390 million, with expectations for total incurred claims to remain well below a target level of approximately 30%. This forward-looking guidance reflects confidence in the company’s strategic direction and operational resilience.
