Health insurer HBF has revealed one of its strongest years on record as improved investment markets more than match up with the rising levels of claims.

HBF, a mutual which operates on a not-for-profit basis, recorded a $134 million surplus for the year ending June 30, its second highest performance after hitting $216 million. The previous record, in 2006-07, was strong due to global investment markets and included a one-off $60 million inclusion in general reserves following strategic decision to close the HBF Future Health Benefit scheme.

HBF CEO Rob Bransby said there was nothing particularly exceptional about the financial result which resulted from premium income rising to almost $1.1 billion, up more than 7 per cent from $1.16 billion in the previous financial year.

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