Listed Australian health insurer nib says the Tower Health business it boughtlast year added $8 million (A$6.4 million) to the group’s pre-tax net underwriting profitfor the year to June 30.

The New Zealand profit reflected seven months of operation since nib completed the acquisition of TOWER’s health arm in November.

“As forecast, the acquisition was EPS accretive in FY13, with nib New Zealand contributing about 9% of group operating profit,” nib said in an announcement to the Stock Exchange.

“This is a very pleasing result and confirms that New Zealand will become an increasingly important part of nib’s earnings base,” nib New Zealadn chief executive Rob Hennin says.

Hennin says the acquisition and integration of the business into nib has gone smoothly and the company is now planning “a very heavy investment in brand and marketing” for later in the year.

He says it will include a direct-to-consumer product offering.

“To support this we have appointed Benji Marshall as the brand ambassador to front nib New Zealand’s marketing and advertising campaign,” he added.

“We think Benji is a great fit for our company and our brand. And with him returning to New Zealand to play rugby with the Auckland Blues next season, we saw this as a great opportunity,” Hennin said.

nib managing director Mark Fitzgibbon says there are plenty of opportunities for the company in New Zealand.

“With just over 30% of New Zealanders having health and medical insurance, compared to almost 50% in Australia, we see a great opportunity to grow industry participation and snare our lion’s share of this increase,” Fitzgibbon said.