Nobleoak Life Limited
NOL.ASXFinancials
Registered friendly society providing life insurance
Market Data
$1.250
-0.0%$116.3M
23.0x
$0.054
0.00%
-0.1%
Latest Earnings
Half Year Results Release
27 February 2026
NobleOak Life passed a major strategic milestone, reaching $504.8m in-force premium (19% growth), halfway to its $1bn target, driven by strong sales and below-industry lapse rates. Underlying NPAT grew 11% to $9.6m despite margin compression in the Strategic Partner segment, with the company affirming FY26 guidance for >15% in-force premium growth and >10% underlying NPAT growth. The company is well-capitalised (174% capital adequacy) and executing growth initiatives including new partnerships with nib and Futura product launches. Key points: In-force premiums reached $504.8m, up 19% YoY, passing halfway point to $1bn target with market share now >4.4%; Underlying NPAT grew 11% to $9.6m with strong underlying margin and expense management discipline; Direct segment underlying NPAT surged 49% to $4.7m, benefiting from RevTech trail commission repurchase ($2.5m cumulative savings) and favourable claims development
Recent Announcements
Half Year Results Presentation
NobleOak Limited reported HY26 half-year financial results with in-force premiums reaching $504.8m (+19% vs HY25), underlying NPAT of $9.6m (+11%), and market share growth to 4.4%, progressing toward its $1bn in-force target. The company reaffirmed FY26 guidance for >15% in-force premium growth and >10% underlying NPAT growth, while maintaining a sound capital position at 174% adequacy ratio and launching new strategic partnerships including products distributed through nib.
Half Year Results Release
NobleOak Life passed a major strategic milestone, reaching $504.8m in-force premium (19% growth), halfway to its $1bn target, driven by strong sales and below-industry lapse rates. Underlying NPAT grew 11% to $9.6m despite margin compression in the Strategic Partner segment, with the company affirming FY26 guidance for >15% in-force premium growth and >10% underlying NPAT growth. The company is well-capitalised (174% capital adequacy) and executing growth initiatives including new partnerships with nib and Futura product launches. Key points: In-force premiums reached $504.8m, up 19% YoY, passing halfway point to $1bn target with market share now >4.4%; Underlying NPAT grew 11% to $9.6m with strong underlying margin and expense management discipline; Direct segment underlying NPAT surged 49% to $4.7m, benefiting from RevTech trail commission repurchase ($2.5m cumulative savings) and favourable claims development
Appendix 4D
NobleOak Life delivered solid underlying earnings growth of 11% to $9.6M (underlying NPAT) for HY26, driven by strong in-force premium growth of 19% to $504.8M and net insurance premium revenue growth of 23%, significantly outperforming the market. However, statutory NPAT fell 23% to $6.3M due to a $2.975M general provision for potential Victorian stamp duty exposure and reversal of prior-year favourable TPD claims experience, though the Direct segment surged 49% with strong margins and the company maintained a robust capital adequacy ratio of 174%. Management retains growth momentum with 4.4% market share and lapse rates 2.8 ppts below industry, though no dividend was declared to preserve capital for growth and the Life Company transition. Key points: Underlying NPAT grew 11% to $9.6M with strong operational momentum; Direct segment NPAT surged 49% driven by RevTech trail commission repurchase (saving $2.5M) and favourable claims development.; In-force premium growth of 19% to $504.8M significantly outpaced industry growth of <2%, with market share expanding to 4.4% (from 3.7% prior year); 12 months to June 2025 new business market share of 13.8%.; Net insurance premium revenue grew 23% to $71.6M; lapse rate improved to 12.4% (2.8 ppts below industry average), demonstrating strong customer retention.
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