Liberty Health Medical Scheme achieves A+ Credit Rating

Liberty Health Medical Scheme has been awarded an A+ rating by the Global Credit Rating Company. This is the second time that the Scheme has achieved the rating confirming its financial stability.

Andrew Edwards (pictured), Liberty Health Medical Scheme Executive Principal Officer, says the rating continues to reflect the scheme’s high claims-paying ability and above average protection factors. “GCR has indicated the rating is based on our strong brand and access to the Liberty Life group’s extensive distribution infrastructure. This allows for cross-selling opportunities and the potential for product bundling. A significant improvement in operating performance which was driven by effective product differentiation and re-pricing strategies; and the significant crossover into a surplus position for the financial year ending December 2007 were also major considerations”

Another positive is that by year end, the scheme administration, presently done by Medscheme, is to be transferred to Liberty Health. This will be a seamless transition as Liberty Health recently acquired leading healthcare information and communication technology provider Neil Harvey & Associates which is currently used by Liberty Health Medical Scheme with their current administrator.