This year Australian Unity was ranked in the top 20 of IBIS Worlds’s Top 500 private companies in Australia – the definition of private including being not listed for equity on the sharemarket. Interestingly, six of the top 20 companies are mutual companies or cooperative enterprises.
I mention this only because there has been much debate in recent years over the relevance of the mutual model, and there seems to be a perception that, with events such as the upcoming float of Medibank Private, that participation in the share market is the optimal form of business structure. I beg to differ on this.
I think we can confidently say that the model we have adopted has served us extremely well over the past 175 years, and has served the community well across a broad range of sectors.
Read Australian Unity Group Managing Director Rohan Mead AGM 2014 address in full.