FANews
FANews
RELATED CATEGORIES
Category Healthcare
SUB CATEGORIES General  |  HIV |  Medical Schemes | 

Liberty Health maintains strong rating of A+

21 August 2008 Global Credit Rating Co.

International rating agency, Global Credit Rating Company (“GCR”), has reaffirmed the domestic ZAR currency claims paying ability rating of A+ (single A plus) accorded to Liberty Health Medical Scheme (“Liberty”). The rating is a reflection of a high claims paying ability and above average protection factors.

Liberty’s relationship with the Liberty Group provides it with a competitive advantage in terms of its access to the Liberty Life tied agency force and client database, as well as the potential for product bundling and cross selling opportunities. Against this background, the scheme has achieved consistent and stable membership growth over the past three years, with the number of principal members having increased by 4% in F07 to end the year at 46,485. According to Susan Andrews of GCR, cognisance was taken of the scheme’s strong brand and access to the Liberty group’s extensive distribution infrastructure. In this regard, Liberty recently took the decision to transfer the full administrative and managed care function to the Liberty group’s healthcare administrator, with the transfer expected to take place as early as 4Q F08. This is expected to reinforce the brand linkage to the Liberty group and demonstrates the group’s commitment to the South African healthcare industry.

The effectiveness of product differentiation and re-pricing was reflected by a significant improvement in operating performance in F07, with the net result reverting to a surplus from a large deficit position in F06. Furthermore, note was taken of the marked increase in solvency anticipated in F08. Liberty has maintained a large and diversified investment portfolio and displayed strengthened liquidity measures in F07.

Quick Polls

QUESTION

Which aspect do you think is most critical for the future success of financial advisory firms?

ANSWER

Embracing technological advancements
Rethinking fee structures
Focusing on inter-generational wealth transfer
fanews magazine
FAnews June 2024 Get the latest issue of FAnews

This month's headlines

Understanding prescription in claims for professional negligence
Climate change… the single biggest risk facing insurers
Insuring the unpredictable: 2024 global election risks
Financial advice crucial as clients’ Life policy premiums rise sharply
Guiding clients through the Two-Pot Retirement System
There is diversification, and true diversification – choose wisely
Decoding the shift in investment patterns
Subscribe now