Helia 3Q26 NPAT $36.5m as GWP Falls After CBA Loss

Helia (ASX:HLI) released its third quarter trading update to show the effect of a slowing Australian housing market and the loss of the CBA contract on premium and revenue, while confirming its FY26 guidance.

The figures are extracted from the quarterly APRA lodgement for Helia Insurance Pty Ltd and have not been externally reviewed or audited. GWP was $82.5m for YTD Sep 26 against $176.0m for YTD Sep 25, which Helia attributes to the loss of the CBA contract, the expansion of the Australian Government's 5% Deposit Scheme and a slowing in home lending. Insurance revenue was $253.4m year-to-date, down 8% on pcp, and $82.8m for 3Q26. Statutory NPAT was $136.5m year-to-date against $200.9m, and $36.5m for 3Q26. Total incurred claims were $5 million in 3Q26, reflecting a modest increase in delinquencies and declining house prices, while year-to-date claims were negative $8.4 million. The 90-day delinquency rate rose four basis points to 0.83%. Net investment revenue was $47.2m year-to-date against $121.3m, and the annualised net investment return was 3.3% against 4.7%. The PCA coverage ratio was 2.01x, above the Board's target capital range of 1.4 to 1.6 times. FY26 guidance for insurance revenue remains $330 million to $360 million.

The lodgement covers the main operating entity only, not a consolidated view, and does not include a full review of claims reserving.