Coronavirus

Southern Cross triples surplus after paying $50m covid discount

Brent Melville
Wed, 16 Sep 2020

Southern Cross triples surplus after paying $50m covid discount
Brent Melville
Wed, 16 Sep 2020
Southern Cross Health Society almost tripled its surplus in the 12 months to June as it made gains on its investments and interest.  The insurer, New Zealand's largest, said its surplus before tax was up from $10.7 million last year to $32.4 million.  But the not-for-profit organisation said it paid 3 million claims to its members during the past financial year, or 85 cents of every dollar in claims it received. Members paid $1.14 billion in premiums for the year, up 5 percent on the $1.1 billion for 2019, with a net $972 million in cl...

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