Helia Group has renewed its exclusive Lenders Mortgage Insurance contract with ING Bank Australia for four years from July 2026, preserving a significant revenue stream representing about 20% of its FY25 premiums.
- Helia retains exclusive LMI provider status for ING
- Four-year contract starting July 2026
- Contract covers roughly 20% of FY25 gross written premiums
- Previous agreement expired June 2026
- No financial terms disclosed
Contract Renewal Anchors Significant Revenue Stream
Helia Group Limited (ASX:HLI) has clinched a four-year exclusive agreement to supply Lenders Mortgage Insurance (LMI) to ING Bank Australia, effective from 1 July 2026. This renewal safeguards a contract that accounted for approximately 20% of Helia’s gross written premiums in FY25, underscoring its strategic importance to the insurer’s top line.
Continuity Amid Market Shifts
The prior exclusive LMI supply and service agreement with ING concluded on 30 June 2026, marking a seamless transition into the new contract period. While Helia has not disclosed financial terms or any changes in conditions, the extension signals ongoing confidence from ING in Helia’s underwriting and service capabilities.
Positioning in a Competitive LMI Landscape
Helia’s ability to retain ING as an exclusive client comes amid a dynamic LMI market where major lenders are reassessing their insurance partnerships. The deal follows a period of premium growth and strategic focus on the Australian LMI sector, with Helia previously reporting a 28% half-year premium increase and a 30% year-on-year rise in gross written premiums, despite government scheme pressures.
What Lies Ahead for Helia and ING
With the contract secured for four years, Helia can count on a stable revenue base from ING while it navigates broader market challenges, including shifts in government policy and lender behaviours. The absence of disclosed financial details leaves open questions about pricing, risk sharing, and potential impacts on Helia’s margins. Observers will be watching how Helia leverages this partnership alongside recent leadership changes, including the incoming CEO and CFO appointments later this year.
Bottom Line?
Helia’s renewed exclusive contract with ING offers a solid revenue foundation but leaves open questions on contract terms and margin impact amid a shifting LMI market.
Questions in the middle?
- Will Helia disclose financial terms or changes in risk-sharing arrangements with ING?
- How will this contract renewal influence Helia’s premium growth trajectory and profitability?
- What strategic moves will Helia pursue to offset pressures from government schemes and lender competition?