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.
Recommended for you
Insignia Financial has issued a statement to the ASX regarding a potential bid from a third global private equity business to acquire the firm.
More than 30 advisers fell off the FAR during the Christmas and New Year period, according to Wealth Data, with half of these coming from licensee giant Entireti.
With next-generation heirs unlikely to retain their family’s financial advisers after receiving an inheritance, Capgemini has explored how firms can work with younger generations to maintain a relationship.
The use of technology and data analytics will be a way for advice firms to grow in 2025, according to Adviser Ratings, with those who are using it successfully reporting 10 per cent higher profit margins.
