In Unity on matters healthy, wealthy and wise

Australian Unity: the healthiest stakeholders are the directors.

HEALTH fund Australian Unity's first-ever remuneration report shows that it is certainly looking after the well-being of directors and senior executives.
Not that the mutual's earnings performance in the past year was shabby, or that it is not paying out ever-increasing amounts to its premium-paying members.
Australian Unity is also technically not required to even produce the numbers because it is not listed on the ASX. Chairman Alan Castleman and his board, however, have adopted ASX governance principles - which not only means a nice track record should the group actually decide to take the plunge, but Australian Unity gets an elephant stamp from Insider for electing to be more transparent than required.

Advertisement: Story continues below

Still, strip out the $1.2 million a year picked up by non-executive directors, and the total tossed to its five nominated senior management personnel rose from $2.9 million to $5.6 million - which is getting close to a near doubling in anyone's books.