Report on the MAS Annual Meeting of Members 2026

MAS Board Chair Dr Doug Hill and Chief Executive Jo McCauley presented key highlights from the 2026 Annual Report, reflecting on a strong year of performance and outlining the focus for the years ahead. 

For the year ended 31 March 2026, MAS reported a profit of $73.1 million, with equity increasing to $380.5 million and total assets reaching approximately $572 million. MAS also maintained its A (Strong) financial strength rating from Standard & Poor’s. 

The year saw continued progress in strengthening the Member experience, including enhanced advice capability, improvements to the myMAS digital experience and significant progress towards modernising MAS’s technology platforms. 

Doug and Jo also spoke about MAS’s renewed focus on becoming a truly Member-first mutual by 2030, responding to feedback from Members who told us they want MAS to be more proactive, easier to deal with and more connected. 

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

Looking to the future 

Members heard about MAS’s long-term vision and the work underway to build a modern mutual that combines the convenience of digital services with the human connection and trusted advice that Members value. 

Over the coming years, MAS will continue to invest in its people, technology, products and services, with a focus on creating more seamless and connected Member experiences. 

This investment will impact short-term profitability, but it is an important part of ensuring MAS remains relevant, sustainable and competitive for generations to come. 

MAS Foundation 

Members also heard from MAS Foundation Chair Jennifer Gill about the Foundation’s work over the past year and its focus on creating lasting change for whānau and communities across Aotearoa New Zealand. 

During FY26, the Foundation committed $2.9 million to community-led initiatives supporting whānau and communities. Its strategy, Te Tikitiki a Taranga, continues to focus on the first 2,000 days of life, recognising the importance of this period in shaping lifelong health and wellbeing. 

Funding for the Foundation has increased to $4 million for FY27, allowing it to extend its impact through long-term partnerships and community-led programmes. 

Ordinary Resolutions 

Members were asked to vote on three resolutions, with all voting conducted by poll.  

Following the meeting, the scrutineer confirmed the final voting results and advised that all three resolutions were passed being: 

1. to reappoint Steve Merchant as a Practitioner Trustee, subject to the terms of the Members' Trust Deed. 
2. to appoint Jennifer Lang as a Commercial Trustee, subject to the terms of the Members' Trust Deed. 
3. to appoint Jon Raby as a Commercial Trustee, subject to the terms of the Members' Trust Deed. 

These appointments strengthen the breadth of experience and expertise around the Board as MAS continues its transformation and looks towards its long-term future.  

Thank you again to all Members who took the time to participate in this year’s Annual Meeting of Members and to those who voted and thanks to all our Members for trusting us to provide you with the protection and support you need in your personal and professional lives.