Australian Unity is a national healthcare, financial services and retirement living organisation providing services to more than 560,000 Australians, currently including some 285,000 members nationwide, 10,000 of whom have been members for more than 50 years.
In the financial year ended 30 June 2011, Australian Unity’s revenue was $1 billion. It employs around 1,500 staff nationally.
Australian Unity’s history as a trusted mutual organisation dates back more than 170 years. It has grown organically—by continually evolving and providing the services and products needed by the communities it serves—as well as through successful strategic mergers and diversification into new business activities.
In 2011, this social purpose guides strategic planning as the company—together with customers, members and the broader community—responds to the challenges of an ageing population, the rise of chronic disease and growing economic uncertainty.
Australian Unity operates the sixth largest health fund in Australia. Additionally, Australian Unity operates Grand United Corporate (GU Health), a corporate health fund that provides tailored health plans to some of Australia’s leading corporations. The combined businesses provide health cover for more than 350,000 people.
Australian Unity also operates three dental clinics and other allied health services, including Remedy Healthcare, a preventative health business that offers health coaching, chronic disease management programs and in-home rehabilitation services for members and customers recovering from injury or surgery.
Through these business operations, along with award-winning wellness benefits, Australian Unity supports members and customers to stay well and live longer.
Australian Unity Investments provides specialist property, fixed interest, mortgage and equity products to investors. At 30 June 2011, Australian Unity Investments had $11.9 billion in funds under management.
The business has extensive in-house property and mortgage fund manager expertise, complemented by joint ventures with specialist investment professionals. It currently has joint ventures with Acorn Capital (microcap equities), Vianova Asset Management (fixed interest), Platypus Asset Management (Australian equities), Wingate Asset Management (international equities), Seres Asset Management (Asian equities), and Altius asset Management (fixed interest).
In 2009, Australian Unity also merged with Lifeplan Funds Management. Lifeplan is a mutual that specialises in investment bonds, education savings plans and funeral bonds.
This distinctive business model means investors can access a range of expert investment managers, each focused on managing a specific asset class, while benefiting from the support, resources, experience and expertise of a long-established, mutual organisation.
Australian Unity’s Retirement Living business owns and manages a range of residential communities for older Australians across New South Wales and Victoria. These facilities offer more than 1,605 home units, 451 aged care beds and 180 ambulatory and community care packages.
The business approach is to support people in accommodation settings by providing a range of health, lifestyle and care services that support their personal and community wellbeing.
Australian Unity’s Personal Financial Services business offers financial planning advice and finance broking. The business has been modelled on modern regulatory requirements and designed to provide accessible personal financial services to Australians, and at 30 June 2011 had more than $1 billion in funds under advice and a loan book of $311 million.
