Medibank shares fall on disappointing policy growth guidance

Further investment in healthcare and promises that its business remains resilient as economic conditions soften have done little to reassure Medibank investors after the company missed interim earnings forecasts.

Policy growth for Australians who elect to take out coverage in this financial year will mark a “moderation” relative to 2022-23, industry-wide, the company said. Medibank forecast 1.2 per cent to 1.5 per cent growth in the year ending June 30 for resident policyholders.