Liberty Medical Scheme : Strong claims paying ability reaffirmed

Liberty Medical Scheme (LMS) has once again earned a strong rating of AA- from Global Credit Rating (GCR), reaffirming its solid and stable claims paying ability for its 118 000 beneficiaries.

“The Scheme maintained its solvency level above the statutory requirement, giving members the assurance that their contributions are well managed and taken care of,” says LMS Executive Principal Officer, Andrew Edwards. “The rating positions LMS as one of the top performing medical schemes in South Africa.”

GCR cited the Scheme’s integral linkage to the long established Liberty Group as positive and said the Scheme’s capital reserves and solvency measures continued to register at comfortable levels.
Edwards emphasises that the rating confirms the sustainability of the Scheme going forward.

“Through its carefully structured benefit options, LMS remains committed to offering cover for members’ entire healthcare experience,” says Edwards. “The Scheme also continues to be highly rated on issues such as good leadership and transparency by its members.”

LMS’s product offering covers a wide range of benefit options to suit different members and continues to focus on innovation and product enhancement to provide relevant and affordable medical cover.
Edwards adds that the Scheme’s current amalgamation strategy will go a long way in improving this rating in the long run as it grows its membership and will continue to offer its members the best possible benefits always taking their needs into account.

Concludes Edwards: “Not only has the Scheme managed to maintain its claims paying ability at strong levels, but there are also some exciting developments in the pipeline, shortly to be announced. This is expected to provide a platform for future growth.”