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Unimed seeking higher returns

A Kiwi health insurer has moved millions of dollars to a riskier investment because it wants better returns.

Wednesday, January 8th 2014, 10:42AM

by Susan Edmunds

Unimed’s latest financial statements show that between 2012 and 2013, $20 million of corporate bonds changed from being AA- rated to non-rated.

The company has just under $75 million invested in total.

The company’s accountant, Fraser Hope, said the move was a strategic one, to get a better return from the investment.

He said customers would be unaffected and would be better off because of the move.

“A lot was with BNZ and we moved it to another investment body, with Tyndall. It’s more of a risky investment to get better returns.”

The 2013 statements also showed there was just under $7.5 million more invested in AAA-rated investments than there had been in 2012, $2 million less in AA+ investments and $7.7 million more in AA-rated.

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