South Africa: Global Credit Rating reaffirms solid financial performance
Liberty Medical Scheme (LMS) claims paying ability has once again earned the scheme a strong and enviable rating of AA- from Global Credit Rating (GCR), reaffirming its position among the top-performing medical schemes in South Africa. The Scheme rating outlook has also been upgraded to reflect a stable position which confirms the sustainability of the Scheme going forward.
“The Scheme also comfortably maintains reserve and solvency levels well above statutory requirements, all of which will give members the assurance that their money is in good hands and managed with care and diligence,” says LMS Executive Principal Officer, Andrew Edwards.
“Despite difficult trading conditions, the Scheme’s high claims payment capability remains firm which translates to high levels of protection of members’ benefits. This rating not only affirms the Scheme’s commitment to the well-being of its members, its solid financial performance also sets LMS apart from other industry players,” he stresses.
Plans are well underway to ensure that LMS reaches more markets and that its product offering caters to the needs of all income groups, tailor-made for the different stages of peoples’ lives, Edwards adds.
“Along with other key strategies that have been put in place to remain an industry leader, going forward LMS will focus strongly on innovation and product enhancement to ensure that the Scheme continues to provide more genuine value with regards to benefits to its current and new members,” Edwards concludes.
