• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

See More

Income boost for Bonitas

May 04 2011 14:15 I-Net Bridge

Related Articles

Bonitas court case postponed

Bonitas governance under fire

Court deals blow to Bonitas board

Bonitas execs fight back

Bonitas contests curatorship

Pressure intensifies on Bonitas

Johannesburg - Bonitas Medical Fund, South Africa's second-largest medical scheme, bolstered its financial position in the year to December 31 2010 with a R500m boost in net income as it kept a tight control on costs while continuing to strengthen the solvency of the scheme.

Bonitas reported a net surplus for the year of R277m after a deficit of R242m in the previous financial year. The group's paid-up members at December 31 2010 totalled 279 546 people, while the total number of beneficiaries was 650 846.

Net contributions by members in 2010 rose by R700m to R6.8bn.

Bonitas said it strengthened its solvency ratio to 35.97%, well above the statutory 25% and significantly higher than the industry norm, and minimised contribution increases and erosion of benefits.

Gerhard van Emmenis, Acting Principal Officer of Bonitas, attributes the improvement largely to the fund's ability to manage down both healthcare and non-healthcare costs to improve its solvency ratio.

"These results show that we remain among the most solvent and best-administered schemes in the country. Even during a challenging period of close scrutiny by the regulator, we have continued to serve our members and protect their interests with great success," he said.



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:


Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.

Business tips from the world’s billionaires

We share some of the world's most successful people's greatest tips and who knows, this might just lead you to your first million!


Luxury living

5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!
What to expect inside a royal nursery

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote