NobleOak Life (NOL) AGM 2025 summary

Opening remarks and agenda

• Chair welcomed shareholders and guests, confirmed a quorum, and outlined the meeting agenda, including addresses from the Chair and CEO, formal business, and Q&A sessions for both in-person and online attendees.

• Introduced directors, executive team, and auditor, and explained hybrid meeting logistics and voting procedures.

Financial performance review

• In-force premiums reached AUD 464.2 million, up 20% from FY24 and ahead of guidance, increasing market share in both direct and advised business.

• Underlying NPAT rose 22% to AUD 18.3 million; statutory profit was AUD 7.1 million after adjustments.

• Embedded value increased to AUD 197.6 million at 31 Dec 2024, with a 9% CAGR since IPO.

• Direct channel in-force premiums grew 9% to just under AUD 100 million; insurance margin up 31.2%, driving a 52% NPAT increase.

• New business totaled AUD 63.7 million, a 17% increase over FY24.

Board and executive committee updates

• Board renewal is a priority, with a search underway for a new director to eventually succeed Stephen Harrison, who is seeking re-election.

• Inese Kingsmill and Stephen Harrison were re-elected as directors.

• Board consists of six directors, including the Chair, CEO, and four non-executive directors.

• Acknowledged leadership transitions and ongoing commitment to board capability assessment.