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Southern Cross Healthcare Group, a collection of independent, health-oriented businesses in New Zealand, operates on not-for-profit principles and is New Zealand’s largest non-public healthcare organisation. The Group’s main areas of business include health insurance, private hospitals, travel insurance and pet insurance. The Group, not itself a legal entity, encompasses the Southern Cross Medical Care Society and the Southern Cross Health Trust.
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Southern Cross Medical Care Society
Founded in 1961, the Southern Cross Medical Care Society, trading as Southern Cross Health Society, is a friendly society and New Zealand’s largest health insurer, with 815,000 members (as at mid-2014), which represents a 61% market share. It funded more than NZ$690m of healthcare services in the year to 30 June 2014, mostly for elective surgical procedures. The Society also offers corporate wellness programmes. In the 2014 financial year, for every $1 of premium income, 90.4 cents was returned to members in claims for healthcare treatment.
Southern Cross Health Trust
The Southern Cross Health Trust owns:
Southern Cross Hospitals, established in 1979, is New Zealand’s largest private-hospital network, with 18 wholly owned and joint-venture facilities that deliver more than 65,000 elective surgical procedures annually. The hospitals include the Auckland Surgical Centre and North Harbour hospital.
Southern Cross Benefits Limited, established in 1982, operates as a direct-to-consumer travel-insurance brand (Southern Cross Travel Insurance) that provides cover for around 200,000 travellers annually in both New Zealand and Australia. SCBL also underwrites the Southern Cross Pet Insurance business which has around 11,000 policies in place.