AUL FY2023 Investor Presentation
Retail highlights
Australian Unity Health Limited
Private health insurance (PHI)
Australian Unity Bank Limited
Australian
Unity
Real Wellbeing
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PHI policyholders decreased by 3.6% to
162,294 (2022: 168,317)
Overseas visitor cover policyholders
increased by 20.9% to 3,915 (2022: 3,238)
The Federal Minister for Health and Aged
Care approved Australian Unity Health
Limited's (AUHL) 2023 Premium Round
submission, with an average increase of
3.76%. AUHL deferred this premium
increase from 1 April 2023 to 1 November
2023, in light of lower claims experience
A further deferral of the 2023 premium
increase until 1 April 2024 is announced
Experienced some operational systems
and technology issues in second half of
the year that unfortunately impacted the
fund's ability to process members' claims
in a timely manner. We apologise to these
customers for this negative experience,
which has since been remedied and we
have now achieved operational
improvements
The PHI Deferred Claims Liability1 relating to
claims deferred due to COVID-19 government
restrictions on some private healthcare
services was reduced from $71.0m at 30
June 2022 to nil at 30 June 2023, with no
remaining expectation of material claims
catch-up
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Deferred Claims Liability
$m
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DCL as at 30 June 2022
71.0
.
Unwind of provision during the
period
(70.2)
Movement in other components
(0.8)
DCL as at 31 June 2023
1 The Deferred Claims Liability was an additional
provision held as a result of surgeries and other
health services being restricted during COVID-19
Approximately 26,000 customers, with total assets growing by $58.2m to
$1,394.4m (2022: $1,336.1m)
New lending growth along with increases in Reserve Bank of Australia
(RBA) cash rates led to a 11.4% increase in net interest income
Average gross loan book of $1,140.7m grew 18.3% compared to PCP.
A decline in house prices, higher cost of living inflation and higher cash
rate led the increase in Expected Credit Loss provision on loans by $0.7m
to $9.1m (2022: $8.4m)
Achieved lending growth with $254.1m of loans funded
Gross Loan Portfolio increased by $41.9m or 3.8% to $1,156.4m
(2022: $1,114.5m)
Operated Kookaburra Securitisation Program at $225.0m. This is a self-
securitisation structure acting as a contingent liquidity support capability
for the bank with 94.9% of notes rated as 'AAA' and currently providing
access to the RBA's Term Funding Facility
Issuer Credit Rating by S&P Global remained stable at 'BBB+'
AUL FY2023 Investor presentation
Figures at 30 June 2023, unless otherwise noted
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