Health insurer Westfund delivers distribution
Member-owned health insurer Westfund has this week reported an increase in member reserves to over $95 million.
The company announced that property and cash investments held by the fund totalled $120 million and that member retention remained at 95 per cent, positioning it for a distribution of a $4 million later this year.
Commenting on the result, Westfund managing director Grahame Danaher said it had been achieved despite what he described as a “challenging environment”.
He said the result would allow for continual improvement to service delivery through system upgrades, product and benefit improvements and the acquisition of new dental practices in Queensland, including a $4 million six-chair facility in Mackay set to open in February 2013.
AUTHOR
Staff Writer
Recommended for you
Following an extraordinary general meeting today, Dixon Advisory parent company E&P Financial Group’s shareholders have voted on its proposed delisting from the ASX.
While overall financial adviser numbers have dipped below 15,500 this week, Rhombus Advisory is experiencing growth and approaching 500 advisers in its ranks.
Iress’ Xplan continues to dominate the financial planning software market with a multitude of uses, according to Netwealth research, despite newer players battling for a piece of the pie.
ASIC has shared the percentage of breach reports related to financial advice in FY24, noting increased reporting by smaller AFSLs.
