MAS reports strong performance and sets out long-term vision for Members

MAS has today released its 2026 Annual Report, highlighting a year of strong financial performance, significant investment in Members and communities, and a renewed focus on creating a more connected, Member-first organisation. 

The mutual has continued to strengthen its financial position while investing in technology, advice capability and Member experience to ensure it remains relevant and sustainable for future generations. 

MAS Chair Dr Doug Hill says the organisation's strong performance provides a solid platform to deliver greater value for Members. 

"MAS exists for its Members, not external shareholders, and that gives us the ability to take a long-term view. This year we have continued to build on our financial strength while listening carefully to what our Members are telling us they want from their mutual," says Hill. 

"Members value the trust, service and mutual ethos that MAS has always been known for, but they also want stronger relationships, more proactive engagement, competitive pricing and a seamless experience. Rebuilding those connections and ensuring Members feel the value of being part of a mutual is a key priority for us and what this sustained profit allows us to unlock in future years." 

For the year ended 31 March 2026, MAS reported a profit of $73.1 million, supported by strong investment returns, lower-than-expected claims costs and disciplined financial management. Equity increased to $380.5 million, while total assets reached approximately $572 million. 

The organisation also maintained its A (Strong) financial strength rating from Standard & Poor's. 

Chief Executive Jo McCauley says the result reflects several years of focused work to strengthen the organisation and position it for the future. 

"FY26 marked our third consecutive year of strong profitability and leaves MAS in an excellent position to invest in the future on behalf of Members," says McCauley. 

"Our focus now shifts from building strength to using that strength wisely. We are investing in transforming our business, modernising our technology, strengthening our advice capability and improving how Members can engage with us across every touchpoint." 

"We know Member expectations are changing. Our goal is to make MAS easier to deal with, more connected and more responsive, while preserving the personal relationships and trusted advice that have always set us apart." 

The Annual Report also highlights MAS's growing impact beyond financial services through the MAS Foundation. During FY26, the Foundation committed $2.9 million to community initiatives focused on improving health and wellbeing outcomes for whānau across Aotearoa New Zealand.  

Funding for the MAS Foundation increased to $4 million in FY26, supporting further investment in long-term partnerships and community-led programmes during FY27. 

Other highlights from the year include: 

• More than $30 million paid in life, trauma, disability and total permanent disablement claims. 
• More than $7 million paid in weather-related claims following significant weather events across New Zealand. 
• Strong growth in Member Funds, with funds under management increasing by $398 million. 
• Introduction of complimentary MAS Roadside Assistance for Members with comprehensive motor vehicle cover. 
• Ongoing recognition as Consumer People's Choice for House, Contents and Car Insurance for the tenth consecutive year. 
• Continued enhancement of the myMAS digital platform and progress on a major technology transformation programme. 

Hill says the organisation is now focused on delivering its long-term vision of becoming a truly Member-first mutual by 2030. 

"We have set ourselves an ambitious goal to transform MAS over the coming years. That means combining the convenience of digital services with the human connection Members value, while ensuring every decision we make starts with Member needs." 

"Our financial strength gives us the confidence and capability to invest in that future while continuing to support Members when it matters most." 

The MAS Annual Report 2026 is available at mas.co.nz.

Members are invited to attend the MAS Annual Meeting of Members, which will be virtually held on 26 August.