6 questions lodged at 2026 Helia (HLI) hybrid AGM

Q1. Given that Australia's biggest home lender CBA doesn't report any bad debts in its enormous home loan portfolio, is there really any need for a residential mortgage insurance product in this market? As residential prices continues to rise nationally to new records, in what circumstances do we ever face a claim due to a mortgage default where the bank was unable to recover its loan through a seizure and sale process?

Answer: Helia has a 51% market share in what is arguably a pointless product which just jacks up the costs for borrowers when the banks rarely make any claims in this booming residential market. Chair Leona Murphy gave a good answer talking about cycles. LMI was obviously needed globally after the GFC. Watch video of exchange via Twitter.

Q2. Were we satisfied with the level of consultation that the Federal Government offered before they introduced their 5% loan equity scheme. If the scheme was to be tweaked, what sort of changes would we recommend? Do any other countries have such a scheme and how do they work offshore?

Answer: Helia is clearly not happy with the Federal Government for cutting its LMI lunch with this 5% deposit home ownership scheme. The acting CEO said they are closely consulting with the government and there are no similar schemes in offshore markets. Watch video of exchange via Twitter, plus these additional comments on the offshore situation.

Q3. What was the most important remuneration change you made to avoid a second strike and achieve such strong support today. Was the departure of the CEO a factor? How many institutional shareholders did you meet with personally to discuss the remuneration policies and did you have any engagement with the Australian Shareholders' Association?

Answer: Chair Leona Murphy said she met with about 20 institutions and responded with substantial transparent changes. This is how it should work. Well done. Watch video of exchange via Twitter.

Q4. If the former CEO hadn't sold some of her shares before the loss of the Commonwealth Bank contract, would she still be CEO today? Also, what are the gardening leave elements of her departure and are there still any LTI grants in play, even though she is no longer able to directly influence events at Helia?

Answer: Chair Leona Murphy said there was no connection and said parts of the LTI remain in place with an element of board discretion available to be used, presumably if she joined a competitor. Watch video of exchange via Twitter.

Q5. Thank you for running a best practice hybrid AGM with early proxy disclosure, including head count data. You also commendably followed the agenda calling for questions separately on all items of business , unlike many companies such as Rio Tinto last night. Will you also publish a copy of the webcast on your website plus include the headcount data on all items, including this spill resolution, in the poll results? If you do all that, you're at best practice, plus received strong voting support for all resolutions. Well done.

Answer: Chair Leona Murphy appreciated the praise. Watch video of exchange via Twitter.

Q6. Having read out all my questions in general business at the start, I'm only asking a final question now just so we don't have no debate when dealing with the individual resolutions. How does it work for Andrea serving on the board of a client in Mystate? How extensive are our dealings with Mystate?

Answer: The italicised component wasn't read out. Chair Leona Murphy gave a good explanation of how the conflict is managed. Watch video of exchange via Twitter.

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