“The loss of the Commonwealth Bank contract was significant, and I want to be straightforward about that. Following a competitive process, Commonwealth Bank selected an alternative LMI provider for new business from 2026,” said Murphy.
However, Murphy added that Helia’s “scale, balance sheet strength, risk discipline and experience across market cycles provide a strong foundation to navigate this change and continue creating value for shareholders… This is a business that knows what it does well and is focused on the path ahead”.
With ING coming back to Helia for a period of at least four years from 1 July, the group has regained a client that represents approximately 20% of its gross written premiums (GWPs).
“We are pleased that ING has chosen to retain Helia as their exclusive LMI provider, reflecting our deep expertise in risk management for home lending. We look forward to continuing our longstanding partnership,” interim chief executive Michael Cant (pictured) told MPA.
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