Helia Group Ltd Retains ING as Exclusive LMI Partner for Four Years
Helia retains ING as exclusive LMI partner in four-year deal
Helia Group Limited (ASX:HLI) has been selected as the exclusive provider of Lenders Mortgage Insurance (LMI) to ING Bank (Australia) Limited for a four-year period commencing 1 July 2026.
The appointment represents a renewal of an existing relationship. Helia’s previous exclusive LMI Supply and Service agreement with ING expired on 30 June 2026, making the new deal a continuation rather than a first-time client win.
The materiality is clear. The prior agreement represented approximately 20% of Helia’s FY25 Gross Written Premium (GWP). By retaining this counterparty for a further four years, Helia secures the relationship with the counterparty that historically contributed this volume of GWP, removing a material source of revenue uncertainty.
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Why the ING renewal matters for Helia investors
Retaining a counterparty that contributed roughly 20% of FY25 GWP carries direct implications for revenue visibility. A material share of Helia’s premium base is now contracted, reducing the risk that this business could have shifted to a competitor at the expiry of the previous “exclusive LMI Supply and Service agreement”.
Two features underpin the earnings stability the renewal offers. The arrangement is exclusive, meaning Helia remains the sole LMI provider to ING Bank. It also runs for a defined four-year term, extending the window of contracted premium contribution.
| Detail | Figure |
|---|---|
| Contract type | Exclusive LMI provider |
| Term | 4 years |
| Commencement | 1 July 2026 |
| Prior agreement expiry | 30 June 2026 |
| Share of FY25 GWP | ~20% |
Key deal terms at a glance:
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Term: four years
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Exclusivity: Helia is the exclusive LMI provider to ING
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Start date: 1 July 2026
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GWP contribution: approximately 20% of FY25 GWP
No contract dollar value or specific premium figure was disclosed in the announcement.
What is Lenders Mortgage Insurance?
This is where the exclusivity of the ING arrangement becomes relevant. As the exclusive LMI provider, Helia is the sole insurer providing these LMI policies to ING Bank, which supports the associated GWP contribution.
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What the renewal means going forward
With the four-year term commencing 1 July 2026, the arrangement covers FY27 onward, extending forward earnings visibility across a defined period. Approximately 20% of FY25 GWP is now tied to a contracted relationship rather than an expired agreement.
The announcement contains no forward guidance, financial targets, or projections regarding the future value of the arrangement. The disclosed ~20% figure reflects the prior period’s contribution and should not be read as a forecast of future GWP.
Helia’s incoming CEO appointment adds a further dimension to the company’s near-term outlook, with Mark Senkevics set to take the permanent role by December 2026 alongside Craig Ward’s confirmed CFO position from 1 July 2026, meaning both C-suite seats are filled heading into the new contract period.
Deal Highlight
Helia has been selected as ING’s exclusive LMI provider for a four-year term commencing 1 July 2026.
The release of the announcement was authorised by Helia’s Disclosure Committee. Investor enquiries are directed to Paul O’Sullivan, Head of Investor Relations, Capital and Investments.
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