Our strength rating and solvency margin
Deciding if we’re the right health insurance provider for you means understanding how we’re doing financially. Our financial strength is measured by our solvency margin and strength rating.
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Deciding if we’re the right health insurance provider for you means understanding how we’re doing financially. Our financial strength is measured by our solvency margin and strength rating.
On 1 June 2024, Accuro and UniMed combined to become New Zealand's third largest health insurer.
Accuro is now a brand owned, operated and underwritten by Union Medical Benefits Society Ltd (UniMed). When you take out an Accuro plan, you automatically become a Member of UniMed.
The Insurance (Prudential Supervision) Act 2010 requires New Zealand insurers to have a financial strength rating given by an approved rating agency.
Union Medical Benefits Society Limited (UniMed) is assessed by AM Best, a global credit rating agency, to have a Financial Strength Rating of A (Excellent).
To help interpret the rating, AM Best's Financial Strength Rating scale is:
| A++, A+ | Superior |
| A, A- | Excellent |
| B++, B+ | Good |
| B, B- | Fair |
| C++, C+ | Marginal |
| C, C- | Weak |
| D | Poor |
| E | Under Regulatory Supervision |
| F | Liquidation |
| S | Suspended |
For information about AM Best’s rating scale, category definitions, and their rating disclosure, see AM Best’s guide to financial strength ratings.
As a licensed insurer, UniMed is subject to the requirements of Reserve Bank of New Zealand (RBNZ) solvency standards.
UniMed Solvency as at 31 March 2025
| NZ$000s | |
| Solvency Capital | $209,362 |
| Adjusted Prescribed Capital Requirement | $105,906 |
| Adjusted Solvency Margin | $103,456 |
| Adjusted Solvency Ratio | 198% |
'Adjusted Solvency Ratio' is calculated as Solvency Capital divided by the Adjusted Prescribed Capital Requirement.
'Solvency Capital' is the amount of capital held for solvency purposes.
'Adjusted Prescribed Capital Requirement' is the minimum amount of capital required to be held for solvency purposes.
For more information about Solvency standards, see the RBNZ website.
Acting responsibly on behalf of our Members, includes following industry best practice standards and complying with Codes of conduct.
UniMed is a participant in the Insurance & Financial Services Ombudsman (IFSO) Scheme: a free, independent service which helps resolve disputes between financial service providers and their customers.
As a Member of UniMed, if you aren’t happy with a decision we have made about your policy, please see our Complaint Process
If you aren’t happy at the end of the Complaint Process, you can contact the IFSO to request an independent review, at no cost to you.
To learn more about this, contact the IFSO.
UniMed is a member of the Financial Services Council NZ (FSC) - a non-profit member organisation which promotes best practice and integrity in the financial services industry.
As a member of the FSC, UniMed adheres to the FSC Code of Conduct. This Code promotes good conduct, a strong customer-focused culture, and follows the standards and guidance of the FSC.
FSC website
FSC Code of Conduct
If you have questions, please call UniMed: 0800 600 666.
(8am - 5pm, Monday - Friday) Or email: feedback@unimed.co.nz