Listed health insurer Nib Group is considering “strategic options”, including a sale, for its travel insurance arm.

The move follows an internal review of Nib Travel, group CEO and MD Ed Close said yesterday at a business conference.

His conference presentation paper noted that investment and advisory group Jarden has been appointed to weigh options for the travel insurance business.

Mr Close, who became CEO on December 1, said Nib’s strategy is focused on growing its core private health insurance operations in Australia and New Zealand.

Nib Travel has struggled since the covid pandemic. It is not losing money, but underlying operating profit plunged 42.1% to $8.1 million last financial year, in which it lost its partnership with Qantas.

The business includes the World Nomads and Travel Insurance Direct brands.

Cover-More – which has about a 40% share of the travel insurance market in Australia – has been flagged in media reports as a potential buyer.

A spokesperson for Zurich – which bought Cover-More for $741 million in 2017 – says the insurer will not comment on rumour or speculation.