Renaissance Health Elects New Trustees

MEMBERS of the Renaissance Health Medical Aid Fund last week elected trustees for 2014 to 2017.

They are Benny Amuenje, Abri Nel, Gabriel Tjombe, Omlavi Hamwele, Ambrosius Kandjii, Esther Andima and Bernard Groveacute

Speaking about the annual report, chairperson Amuenje said the fund views transparency as a key factor in governance.

“We experienced a decline in the fund’s reserves brought about by an unusual claims ratio in 2012 that continued in 2013,” Amuenje said.

Despite the decline in the reserves, the fund’s assets were able to cover the liabilities of the fund 3,3 times.

He went on to say that the fund has strengthened its reserves to achieve the Namfisa benchmark of 25% of the fund’s assets of contribution income to be held in reserves.

In addition to the escalation in claim trends and the unpredictable number of children born to fund members, Amuenje said that rapid growth of members during 2012 also placed further pressure on the reserves. The Fund received 2 081 new principal members in 2012. These members, he explained, were entitled to incur claims during 2012 and 2013 whilst not immediately contributing to the reserves.

Principal officer Sonja Malan said the fund managed to turn the deficit of 2012 into a surplus of N$ 4,68 million for 2013.

Source : The Namibian