2017 Annual Report
Annual Report 2017 CONTENTS About Medibank 1 Financial summary 2 Business snapshot 3 Chairman’s message 4 CEO’s message 5 Operating and financial review 6 Governance 12 Directors 13 Executive Leadership Team 16 Corporate governance statement 18 Directors’ report 28 Remuneration report 32 Financial report 57 Consolidated statement of comprehensive income 58 Consolidated statement of financial position 59 Consolidated statement of changes in equity 60 Consolidated statement of cash flows 61 Notes to the consolidated financial statements 62 Directors’ declaration 110 Auditor’s independence declaration 111 Independent auditor’s report 112 Shareholder information 118 Financial calendar 120 Corporate directory 121 View Medibank’s Annual Review 2017 to find out more about our business and performance: medibank.com.au/annualreview MEDIBANK ANNUAL REPORT 2017 ABOUT MEDIBANK Purpose Better Health for Better Lives Ambition To deliver Better Health for Better Lives we will: • Broaden the offering of our Medibank and ahm brands to deliver the best combination of products, service and advice for our customers. • Build a market leading health services offering for our customers. Values “ Medibank has an increasingly important role to play in helping our customers live healthier and happier lives. To do this, we are embracing a bigger purpose – Better Health for Better Lives.” Craig Drummond, Chief Executive Officer During the year Medibank provided private health insurance under our Medibank and ahm brands, supporting customers through more than 1.3 million hospital admissions and 500,000 surgical procedures, and around 23.5 million extras services. We also distributed travel, life and pet insurance. In addition, Medibank provided a range of health services in Australia including mental health support, preventative and better integrated primary care, after-hours health support, and healthcare for the 60,000 permanent and 20,000 reservist uniformed Australian Defence Force personnel.
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