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Australian Unity Health Insurance

2009 Annual Report summary

Australian Unity’s profits were adversely affected by the unrealised positions attributable to financial market declines, which were recorded against investment income. Our profit after tax was $1.1 million for the year ended 30 June 2009 (2008: $32.3 million).

Our structure, however, has allowed us to us be resilient through this current period of turbulence and uncertainty. Our mutual structure allows us to focus on the long term best interests of members, rather than the short term needs of shareholders

Highlights for Australian Unity in FY09 include:

Healthcare

• Launch of Remedy Healthcare—the first program of its kind for patients with chronic diseases
• Australian Unity received Canstar Cannex Innovation Excellence Award for its market leading member wellness benefits designed to help members get healthy and stay healthy
• Achieved industry leading claim turnaround times
• Retained 100 percent of corporate clients despite economic downturn

Retirement Living

• Australian Unity was successful in its bid to develop a Wellbeing Precinct in Carlton, Victoria
• Further allocation of aged and community care places in NSW and Victoria
• Completion of Stage 1 retirement units at both Sienna Grange (NSW) and Victoria Grange (Victoria) villages
• Victoria Grange Aged Care Facility and Constitution Hill Wellbeing and Respite Day Care Centre opened

Investments

• Australian Unity Investments was the number one manager for positive net flows in the unit trusts and investment funds category for the March 2009* quarter
• Vianova Asset Management remained the best performing fixed interest manager over a two and three year period**, and won the Australian Fixed Interest Award at the Tenth Annual Australian Fund Manager Awards
• The Healthcare Property Trust (Wholesale) returned 6.51 percent for the year and earned a ‘highly recommended’ rating from leading research house Lonsec and 4½ stars by Adviser Edge—only the third time the latter has awarded this rating

Personal Financial Services

• Continued success in recruiting high quality investment advisers, with the advisory network growing to 59 (up from 47 in 2008)
• Revenues of $5.5 million (up from 4.8 million in 2008)

Australian Unity Limited (ABN 23 087 648 888) is a public company and serves 560,000 members, customers and their families nationwide. Its operations employ 1,300 people. 

The 2009 Annual Report provides a review of operations for the year, detailed financial statements of the company, as well as the Directors' and auditor's report.

Previous annual reports

Simply click to download the relevant year:

Australian Unity health fund annual report 2001

Australian Unity health fund annual report 2002

Australian Unity health fund annual report 2003

Australian Unity health fund annual report 2004

Australian Unity health fund annual report 2005

Australian Unity health fund annual report 2006

Australian Unity health fund annual report 2007

Australian Unity health fund annual report 2008

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