Webinar – Life Cycle of a Claim
April 12, 2024
Webinar – Life Cycle of a Claim
April 12, 2024

CEO Connect #2, April 2024

Dear Member,

In this edition of CEO Connect, I wanted to offer you, our Members, additional support in the form of presentations to your various committees. I also wish to provide some key updates from our recent Annual General Meeting.

CEO Presentations

Since joining Unimutual, Members have asked for me to attend various committee meetings, to provide insights into what is happening in the global insurance and reinsurance market, and how it applies to our Members.

I wish to extend an invitation to any Members who would like me to present to your committee, should you feel it will add value. This could include sharing information on specific topics, such as global insurance and reinsurance updates, the Unimutual 5-year Strategy or simply just being available to answer any questions that committee members may have.

If this is of interest, please let me know, and I would be happy to support.

Annual General Meeting

At our Annual General Meeting (AGM) on 27 March 2024, Unimutual presented its Annual Report, highlighting an outstanding year for the organisation. Highlights from the 2022/23 year included:

$5.2m surplus generated for Members in 2023
$10.1m Claims Incurred in the 2022/23 protection period
$187.5m Claims Paid in the 2022/23 financial year
$0.5m reduction in Other Operating Expenses (2023 v 2022)
100% Member retention with three new Members joining the Mutual

A full copy of the 2023 Annual Review is available within the Members-Only section of the website here. You will need to be logged into the website via the dashboard to read the full report.

In addition, a ballot was held for the re-election of two Member Directors to our Board. Thank you to both Dianne Allen (University of Newcastle) and Belinda Atkinson (Southern Cross University) for your ongoing support; it is truly appreciated.

Unimutual Constitution

Immediately following the AGM, we were pleased to introduce a refreshed Unimutual Constitution. Proposed by the Unimutual Board and unanimously supported by our Members, this milestone follows an extensive Member engagement process. Feedback from Members was incorporated into the final version, to strengthen the document and ensure its alignment with contemporary governance practices, and our collective vision and values.

Once again, thank you to all Members who participated in both meetings and supported the resolutions. Your engagement underscores our shared commitment to the continued success and integrity of Unimutual. To read the refreshed Constitution, please visit the Members-Only section of the website here.

Looking ahead to renewal

Next month we will be sharing our Half-Year report, covering progress made in the 2023/24 year, including a forecast of our financial results. This will be an update not to be missed.

In the next couple of weeks, our Chief Underwriting Officer, Tobias Pfau and I will commence discussions with our reinsurers for the 2024/25 year. As we enter these negotiations, your active participation is paramount. Accurate data, completion of risk recommendations, and timely submissions will optimise our position in the market. Should you require assistance in these areas, please reach out to us at service@unimutual.com.au.

Thank you for your ongoing engagement, collaboration and support as we continue to protect our Members and drive Unimutual forward.

Yours sincerely,

Geoff Henderson

Chief Executive Officer

e: geoff.henderson@unimutual.com.au

p:  +61 2 9169 6604  m: +61 (0) 417 887 513

In case you missed it

On Thursday 11 April, we hosted a webinar for our Members focused on the ‘Life Cycle of a Claim’. The webinar shared information on what to consider when an incident occurs and the elements that must be navigated to resolve a claim. For those who were unable to attend, you can watch a recording of the session on the website here.

Read previous CEO Connect newsletters here.

Thank you for subscribing to our CEO Connect newsletter. If this email has ended up in your spam or junk folder, please be assured the contents of the message and any attached documents or links are error and virus free. As such, please mark geoff.henderson@unimutual.com.au as a ‘safe’ sender. If you no longer wish to receive this communication, please email service@unimutual.com.au

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