Annual reports and AGM

Results of AGM Vote 2025

The Annual General Meeting (AGM) of the Union Medical Benefits Society Limited (UniMed) was held on Thursday 20 November 2025 at UniMed’s offices, 165 Gloucester Street, Christchurch and virtually at 6pm.

Thank you to all our Members who took the time to attend the meeting and vote or nominate a proxy to vote on their behalf.

All motions were passed as follows:

Motion 1: The apologies were accepted.

Motion 2: The minutes of the AGM held on 22 November 2024 were confirmed as a true and accurate record and have been signed by the Board Chair.

Motion 3: The Chair and Chief Executive’s report were received and adopted.

Motion 4: The Annual Financial Statements and Auditors Report for the year ended 30th June 2025 were tabled and received.

Motion 5: EY (Ernst & Young) were reappointed as the Auditors for the Society and Directors are authorised to set the Auditor’s remuneration.

Motion 6: In accordance with the Rules of the Society, the remuneration payable to the members of the Board of Directors for the financial year ending June 2026 was approved and fixed at an aggregate amount of $465,000 per annum, such remuneration to be apportioned amongst Directors in such a manner as the Board may determine.

Motion 7: Chris Flatt was re-elected as a Director of the Society to hold office in accordance with the Rules of the Society.

The voting results were scrutineered by both a representative from UniMed and our solicitors Simpson Grierson.

UniMed Rules Review

As previously signalled in our Health Chat newsletters we are in the process of reviewing the Rules of the Society and an update on that process was provided at the AGM.

WHY are we reviewing the rules?

The Rules of the Society are an important document – they guide how the Society operates and is governed.

The last major review was in 2012 – since then the environment for those operating in the health insurance sector has changed significantly, including major changes in the regulatory environment. This included a thematic review of governance by the RBNZ and FMA in 2022.

As a result, the Board alongside our solicitors, Simpson Grierson, have completed a comprehensive review of the Rules to ensure that they: 

1. Are compliant with all relevant legal and regulatory obligations – both existing and coming in the near term.
2. Are reflective of best practice governance guidance and practice outlined in the RBNZ’s and FMA’s governance thematic review.
3. Balance the historic Kaupapa of UniMed as a membership organisation with the need to implement UniMed’s current and long-term strategy, and act in accordance with all its financial services licensing requirements
4. Are fit for purpose, and suitable in the context of the present-day operating and regulatory environment.
5. Are easily understandable and use plain English

WHAT happens next?

• We have now completed the first draft of our proposed new Rules.
• We will be communicating and engaging with Members in January 2026, which will include sharing a complete copy of the proposed updated draft and a summary of the main changes and the impacts to Members. It is important to note that none of the proposed changes have any direct impact on Members’ health benefits or coverage.
• UniMed will be calling a Special General Meeting (SGM), planned for late March 2026, where a vote will take place on these.
• In accordance with our current Rules, the adoption of these proposed Rules requires a 67% majority vote of all Members in attendance at the SGM.

If you have any questions or feedback, there will be plenty of opportunity to do so in advance of the SGM and we encourage you to do so.