Financial Strength

we are regulated and monitored for your reassurance

You can be reassured that UniMed’s Board and Management Team are operating the business with the long-term in mind and in line with prevailing laws and regulations.

Financial Strength Rating

Financial Strength Rating

The Insurance (Prudential Supervision) Act 2010 requires all New Zealand health insurers to be given a Financial Strength Rating.

AM Best has assessed Union Medical Benefits Society Limited (UniMed) as having A (Excellent) Financial Strength Rating.

AM Best’s Financial Strength ratings are as follows:

Secure: A++, A+ (Superior), A, A- (Excellent), B++, B+ (Good)

Vulnerable: B, B- (Fair), C++, C+ (Marginal), C, C- (Weak), D (Poor), E (Under Regulatory Supervision), F (In Liquidation), S (Suspended)



A condition of being a licensed insurer is that UniMed is subject to the solvency margin requirements of the Solvency Standard for non-life insurance businesses as issued by the RBNZ. This standard requires UniMed to retain a solvency margin of greater than zero, meaning that the actual solvency capital position exceeds the minimum required under the standard.

UniMed complies with all externally imposed capital requirements.

As at 31 December 2020

Actual solvency capital: $153,195,603
Minimum solvency capital: $28,375,604
Solvency margin: $124,819,999
Solvency coverage ratio: 540%

The solvency ratio is the actual solvency capital divided by minimum solvency capital required.