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Australian Unity Health Insurance
2009 Annual Report summary
The unrealised positions caused by the financial market declines, which were recorded against investment income resulted in Australian Unity's profits being adversely affected. Profit after tax for the year ended 30 June 2009 was $1.1 million (2008: $32.3 million).
Through this period of uncertainty and turbulence, Australian Unity's structure has proven to be resilient. The mutual structure allows a focus on the best interests of members in the long term, rather that the needs of share holders in the short term.
Highlights in FY09 for Australian Unity include:
Healthcare
- Launch of Remedy Healthcare – an innovative program for members of Australian Unity health insurance with chronic diseases
- Canstar Cannex Innovation Excellence Award was awarded to Australian Unity for its one of a kind member wellness benefits, designed to get members healthy and stay healthy
- Achieved industry leading claim turnaround times
- 100 percent of corporate clients were retained despite the economic downturn.
Retirement Living
- A successful bid to develop a Well-being Precinct in Carlton
- Further allocation of community and aged care in NSW and Victoria
- Stage 1 completion of Sienna Grange (NSW) and Victoria Grange (Victoria) villages
- Respite Day Care centre, Constitution Hill Well-being and Victoria Grange Aged Care Facility opened
Investments
- For the March 2009 quarter Australian Unity Investments was the number one manager for positive net flows in the unit trusts and investment funds category*
- Winning the Australian Fixed Interest Award at the Tenth Annual Australian Fund Manager Awards, Vianova Asset Management remained the best performing fixed interest manager over a two and three year period**
- A 'highly recommended' rating was earned from leading research house Lonsec and 4.5 stars by Adviser Edge for the Healthcare Property Trust (Wholesale) returning 6.51 percent for the year.
- Personal Financial Services
- The advisory network grew to 59 (up from 47 in 2008), continuing the success in recruiting of high quality investment advisers
- $5.5 million in revenues (up from 4.8 million in 2008)
Serving 560,000 members, customers and their families Australia wide, Australian Unity Limited (ABN 23 087 648 888) is a public company whose 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.
* Statistics from independent financial services research group Plan for Life.
** Mercer Australian Core Fixed Income Survey Report – 30 June 2009countants throughout New South Wales, Queensland and Victoria.
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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