NobleOak boosts provision as Victorian stamp duty ruling hits transition to life company structure

NobleOak Life Ltd ( (AU:NOL) ) just unveiled an announcement.

NobleOak Life Limited has been advised by the State Revenue Office Victoria that it does not qualify for a stamp duty exemption available to friendly societies on insurance contracts held by Victorian policyholders from 1 January 2025, contradicting the company’s earlier position. In response, NobleOak is seeking clarification from both the SRO and the Victorian Department of Treasury and Finance, evaluating its options to challenge or address the decision, and has increased its provision for the potential liability from $2.25 million at 30 June 2025 to $6.5 million at 31 December 2025 while adjusting pricing on most Victorian policies to limit further exposure; the company notes this one‑off issue arises from the timing of its transition to a life company structure and, despite the impact on statutory profit, it does not expect a material effect on in‑force premium growth or underlying NPAT in FY26.

The most recent analyst rating on (AU:NOL) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on NobleOak Life Ltd stock, see the AU:NOL Stock Forecast page.

More about NobleOak Life Ltd

NobleOak Life Limited is an independent, APRA‑regulated Australian life insurance provider with a 147‑year history originating from one of the country’s earliest benevolent societies. Following its demutualisation in 2011, the company repositioned its model around direct‑to‑consumer life insurance delivered via a digital platform and has since diversified into manufacturing white‑labelled, tailored life risk products for strategic partners, largely distributed through advisers across the Australian market.

Average Trading Volume: 94,259

Technical Sentiment Signal: Hold

Current Market Cap: A$135.7M

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