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Medibank Private (ASX:MPL), Australia's largest health insurer, is favoured by fund managers for defensive earnings and improving claims trends. In August 2026, Pendal Group noted second-half operating profit rose 7%, slightly below consensus, with claims pressure easing and flat FY27 margin guidance offering potential upside. Perennial established a new position and highlighted an 8% dividend increase, while Sharpbridge named Medibank one of its most bullish ideas. Alliance Bernstein welcomed the removal of age-based rebates for older, higher-claiming members. Medibank operates in the Financials sector within the Insurance industry, and Thesis Tracker has captured 16 comments from 10 fund managers, including Pendal Group, Perennial, Sharpbridge, Antares and Alliance Bernstein. Founded in 1976 and headquartered in Docklands, Melbourne, Medibank provides private health insurance under the Medibank and ahm brands and health services through Medibank Health, including telehealth and home care.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Ten Cap, Alphinity Investment Management, Airlie Funds Management, Pendal Group, Investors Mutual Limited, Perpetual Asset Management, Sharpbridge Funds Management, Ellerston Capital, Antares Capital, Alliance Bernstein, Perennial Partners and Atlas Funds Management have invested in Medibank Private Ltd (ASX:MPL).
Managers highlight easing claims pressure, dividend growth, potential upside if extras claims fall due to affordability pressures and policy changes removing age-based rebates for higher-claiming cohorts, according to Pendal, Perennial and Alliance Bernstein.
Pendal notes the latest result slightly missed consensus and FY27 margin guidance is flat, and Antares observed Medibank had materially underperformed the broader market before recovering.
Medibank Private Ltd., headquartered in Docklands, Australia, is a private health insurance provider founded in 1976. The company operates through two primary segments: Health Insurance and Medibank Health. The Health Insurance segment underwrites and distributes hospital and ancillary cover, offered as stand-alone or packaged policies. The Medibank Health segment provides health management and telehealth services, contracting with government and corporate clients across Australia. Medibank focuses on delivering comprehensive private health insurance solutions and integrated health services to its policyholders and institutional partners.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.