Accuro is now part of UniMed

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.

Updated October 2023

UniMed's Strength Rating and Solvency Margin measure our financial strength.  The information below, provides Members with transparency and the peace of mind of knowing UniMed is financially secure.

UniMed has an A (Excellent) Strength Rating, and Solvency Margin of 349%.

UniMed Financial Strength Rating: A (Excellent)

The Insurance (Prudential Supervision) Act 2010 requires all New Zealand health insurers to be given a Financial Strength Rating.

AM Best has assessed Union Medical Benefits Society Limited (UniMed) as having an A (Excellent) Financial Strength Rating.

The Rating reflects UniMed’s balance sheet strength, which AM Best assesses as very strong, as well as UniMed’s strong operating performance, limited business profile and appropriate enterprise risk management.


Financial Strength Ratings Scale

For information about the Rating Scale, Category Definitions, and Rating Disclosure, see the AM Best Ratings Guide

Learn more about AM Best:


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 In Liquidation

UniMed Solvency

A condition of being a licensed insurer is that UniMed is subject to the solvency margin requirements of the Solvency Standard for non-life insurance businesses, as issued by the Reserve Bank of New Zealand (RBNZ).

UniMed complies with all externally imposed capital requirements.

UniMed Solvency as at 31 December 2023

Solvency Capital    $164,705,000
Adjusted Prescribed Capital Requirement $ 47,139,000
Adjusted Solvency Margin $117,566,000

Adjusted Solvency Ratio: 349%
(Adjusted Solvency Ratio is calculated by the Solvency Capital, divided by the Adjusted Prescribed Capital Requirement.)

Solvency Capital = amount of capital actually held for solvency purposes.
Adjusted Prescribed Capital Requirement = the minimum amount of capital required to be held for solvency purposes.   

‘Solvency standards set out a common method for insurers to measure their risks and ensure they have at least a minimum level of available capital to absorb losses before policyholders are affected.’ (Source: RBNZ ‘Standards and requirements for insurers’)

For more information about Solvency standards, see the RBNZ website.

Industry Best Practice

Acting responsibly on behalf of our Members, includes following industry best practice standards and complying with Codes of conduct.


Insurance and Financial Services Ombudsman

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.


Financial Services Council

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