NIB Health Funds is the fourth largest health insurance provider in Australia. It offers insurance services such as singles health insurance,couples health insurance, family health insurance, over 55s health insurance, life insurance, travel insurance, etc. It was founded in 1952 as Newcastle Industrial Benefits Hospital Fund. It changed its name in 1977. Today NIB has over 700 000 customers across the country. In 2007 NIB became the first private health insurance fund listed on the Australian Securities Exchange. NIB's revenue in the financial year 2011 was $1 billion.