Stable Claims and Strong Investments Further Strengthen West
Thanks to an exceptional investment return, a stable position for its Members’ own claims and strong Member retention, West has continued to strengthen its financial position.
The claims performance for prior years has developed more favourably than expected and, as forecast, claims for the current Policy Year were substantially lower than the preceding two years. In conjunction with a 6.5% investment return and the return of large value claims to more normal levels, the Club’s capital position has been substantially reinforced. The Free Reserve grew over 10% to $338.1m, which is a record high, and provides the Club with capital strength well in excess of Standard and Poor’s “AAA” requirements for the sixth consecutive year.