ACC makes massive $4.9 billion surplus

We are just like a real insurance company now. We make huge profits by not paying out claims.The Accident Compensation Corporation has reported a huge surplus of $4.9 billion, which is set to boost the Government's books an extra $324 million boost. Speaking at release of its annual report, Chairwoman Paula Rebstock said the net surplus was $3.6 billion ahead of budget and would allow the corporation to reduce the deficit between its assets and the lifetime cost of every [...]

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ACC signals reduced levy rates

ACC is proposing reduced levy rates for the 2012/13 financial year thanks to ACC’s improved performance. In 2008/09 ACC disclosed a $4.8 billion deficit for the year and that came on top of a $2.4 billion deficit the year before. This was a trend that couldn’t be allowed to continue. The Board therefore set some challenging targets around improving rehabilitation performance and running the organisation more efficiently. ACC’s performance has improved and for the past two years it has reported surpluses [...]

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