NIB Holdings full-year profit fell 16% after volatile markets dragged investment income down by 157%.

The health insurer said the pandemic had spurred higher rates of membership, with premium revenues for Australia up 5.2% and policyholder growth of 3.2% and the best growth in seven years in the fourth quarter.

?Nobody celebrates the misery and disruption of COVID-19, but the pandemic has led to an increased awareness in the community of the risk of disease and the need for active health management,? said Managing Director Mark Fitzgibbon.

NIB shares rose 1.6% in early trade.