HBF reports $130m full-year loss

The HBF group has booked a $130 million net loss for the 2009 financial year as the state's largest health insurer's investments were hit hard.


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Can anyone explain to me why a group such as HBF which claims to exist for the benefit of its members needs investments worth $780 million? I've no problem with keeping a few dollars in reserve for the bad times but the only people who are paying for this investment amount are HBF subscribers and they've lost $158 million on investments and yet still made a profit on day-to-day operations. Not impressed, HBF!

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