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Nib, Cigna create health services JV

Nib Holdings Ltd. partnered with Cigna Corp. to create a healthcare data science and services company.

The companies will contribute A$10 million each in startup funding for the joint venture, which will be headquartered in Newcastle, New South Wales. The joint venture company will work with other healthcare insurers and healthcare providers, offering products and services across Australia and New Zealand.

The joint venture company will operate independently under Rhod McKensey, the group executive for Nib's Australian Residents Health Insurance business. McKensey will be replaced by Ed Close, effective Jan. 1, 2020. Close serves as head of marketing and products for the business unit.