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Med-i-Bank history
Med-i-Bank company history timeline
Medibank began business as an Australian Government-owned private health insurer, established by the Whitlam Government in 1975 through the Health Insurance Commission.
In May 2009, the Rudd Government announced that Medibank would become a 'for profit' business and would pay tax on its earnings.
Before the 2010 election, Liberal leader Tony Abbott made the same pledge to privatise Medibank if it won government, but the party was again defeated by Labor.
Privatisation was again Liberal party policy at the 2013 election, which the Coalition won.
The sale was completed with 100% of the company sold, listing on the Australian Stock Exchange under the code MPL on 25 November 2014, with 440,000 individual owners with a market capitalisation of A$5.921 billion.
Former NAB chief financial officer Craig Drummond was offered the role and commenced in July 2016.
Following Craig Drummond’s retirement, David Koczkar was appointed CEO in May 2021.
Medibank launches Live Better*, with a goal to help 1.5 million Aussies get active in mind, body and community by 2022. *previously named Free + Active
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Med-i-Bank competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Fiserv | 1984 | $20.5B | 44,000 | 348 |
| Broadridge | 1962 | $6.5B | 10,000 | 783 |
| GTCR | 1980 | $750.0M | 99 | 2 |
| CyrusOne | 2000 | $1.2B | 452 | 100 |
| Alliance Data | 1996 | $5.7B | 8,000 | 25 |
| West Bend Mutual Insurance | 1894 | $1.2B | 1,150 | 20 |
| XL Global Services Inc | 1990 | $92.0M | 640 | - |
| United India Insurance | 1938 | $2.2B | 11,777 | - |
| Newyork Life Insurance Co | - | - | - | 12 |
| Essent Guaranty | 2008 | $30.1M | 350 | 45 |
Med-i-Bank history FAQs
Zippia gives an in-depth look into the details of Med-i-Bank, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Med-i-Bank. The employee data is based on information from people who have self-reported their past or current employments at Med-i-Bank. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Med-i-Bank. The data presented on this page does not represent the view of Med-i-Bank and its employees or that of Zippia.
Med-i-Bank may also be known as or be related to Med-i-Bank and Medibank Inc.