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Mutual insurers in New Zealand

Manchester Unity

Manchester Unity is New Zealand’s largest insurance friendly society.  Our policyholders receive insurance cover in exchange for premium payments.  Plus more! 

We are a mutual insurer, all policyholders are members of Manchester Unity, so we:

(1) Provide extra worth to our policyholders through value for money products and discretionary returns of surplus:

1) Offering better insurance products and experiences

a) Issuing covers that offer excellent value for money – better cover at     lower premium

b) Paying claims swiftly

c) Providing service considerately

 2) Providing discretionary returns of surplus:

a) Distributing operating surpluses via premium rebates

b) Increasing policy value through bonuses

c) Decreasing future premiums by retaining surpluses

 (2) Allow policyholders to access our considerable membership benefits.

Why go with a mutual insurer?

The main difference between mutual insurers and listed insurers is that while listed insurers aim to provide returns to shareholders, mutual insurers’ objective is to provide value to policyholders. 


  1. Rather than being a source of profit for overseas investors, Manchester Unity policyholders can enjoy the surpluses themselves, via the use of the universal benefits available to all members, and via receiving discretionary returns of surplus
  2. Rather than continuously finding ways to increase profits, Manchester Unity   can channel its energies into exploring ways to improve the value-for-money of its products and quality of service to policyholders
  3. Rather than focusing on satisfying the short-term profit hunger of overseas investors, Manchester Unity can concentrate on the longer horizon for the benefits of all policyholders.

Other mutual insurers in New Zealand

Reserve Bank of New Zealand keeps a searchable register of all NZ licensed insurers including mutual insurers, who tend to use “society” in their name, here.

Canstar Blue, customer satisfaction research and ratings agency in New Zealand and Australia for the financial services industry, lists NZ mutual and not-for-profit insurers in A guide to health insurance companies in New Zealand, here.

For a plain English history of mutual insurance in New Zealand, refer to Te Ara – The Encyclopedia of New Zealand, here.

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