31 MARCH 2025: HCF has announced that CEO Sheena Jack will retire on 1 July 2025, following a distinguished 15-year tenure in senior leadership roles at Australia’s largest not-for-profit health fund. Since her appointment as CEO in 2017, Sheena has played a pivotal role in shaping HCF’s strategic direction, driving innovation, and expanding services to benefit members.

Under Sheena’s leadership, HCF has undergone significant transformation. She spearheaded the introduction of HCF Catalyst, Australia’s first corporate-backed health technology accelerator, and launched Flip, the country's first on-demand accident insurance product. She was instrumental in the acquisition and integration of Manchester Unity, RT Health, and Transport Health, expanded the Dental and Eyecare Network, and launched the HCF Overseas Visitors Health Cover business. Sheena also championed access to GP and psychology services via telehealth, drove innovative health and wellbeing programs, enabled members to access care at home, and introduced the HCF Thank You loyalty program – the first of its kind in the industry.

“It has been a privilege to serve as CEO for nearly eight years,” Sheena said. “I'm incredibly proud of everything HCF has accomplished during this time, but what matters most is the difference we've made for our members. HCF has grown faster than the industry for the past nine consecutive years, surpassing two million members in 2024, and ranked #1 in member satisfaction among the major funds for six consecutive years. Additionally, our health and wellbeing programs are positively impacting people's lives, and this year, HCF was named the most trusted health insurance brand.” ^#

Beyond her role at HCF, Sheena has been a strong advocate for improvements in the private healthcare system. She has driven innovation through HCF programs, supported health advancement via the HCF Research Foundation, and served as Deputy Chair of Private Healthcare Australia. As a Director of the Business Council of Cooperatives and Mutuals, she has also championed the importance of member-based organisations across various sectors, particularly those requiring strong social responsibility.

HCF Chairman Mark Johnson acknowledged Sheena’s exceptional contributions: “Sheena has been an outstanding leader, making a lasting impact on the private health insurance industry, the mutual sector, our staff and most importantly, our members.”

During her tenure, HCF has strengthened its position as Australia’s largest not-for-profit health fund, prioritising member satisfaction, product value, and service excellence. The fund has won Canstar’s Outstanding Value Health Insurance Award for nine consecutive years and continues to return a higher percentage of premium dollars to members than the industry average.^* HCF’s commitment to affordability and service quality has strengthened trust in the fund and contributed to its sustained growth.

“Sheena's vision and commitment to value, innovation, and service excellence have been instrumental in HCF’s success,” Mr Johnson said. “She is highly respected by all our staff and will be greatly missed.”

Following an extensive global search, the HCF Board has appointed Lorraine Thomas as the next CEO, effective 1 July 2025. Lorraine, currently HCF’s Chief Operating Officer, has played a key role in driving product innovation and diversification since joining the fund in 2015.

“Thanks to Sheena’s commitment to developing internal talent, the Board was able to consider a strong pool of internal candidates alongside several highly accomplished external leaders,” said Mr Johnson. “After a rigorous global selection process, we’re delighted to appoint Lorraine Thomas as HCF’s next CEO. Her strategic focus, industry expertise, leadership skills, and commitment to delivering member value will ensure HCF continues to thrive while upholding our not-for-profit mission.”

With a career spanning two decades in insurance and financial services, Lorraine has held leadership roles across Allianz, BT Financial Group, and MetLife. Since joining HCF, she has held several key roles including Chief Operating Officer, Chief Officer of Product & Diversified Business and Chief Officer of Product & Innovation, leading key initiatives to enhance member offerings, drive digital transformation, and expand diversified health services.

From 1 July, Sheena will continue in a reduced capacity to support a smooth transition as Lorraine takes on the CEO role, before finishing on 31 July.

ENDS

Media enquiries to:

Joni Thomes 0475 576 738 or jthomes@hcf.com.au

ABOUT HCF
HCF, Australia’s largest not-for-profit health fund protecting Australians since 1932, covers over 2 million members with health and life insurance, travel, pet, home and car insurance. HCF has been awarded Outstanding Value Health Insurance by Canstar nine years in a row from 2016-2024. On average over the last ten years, HCF has paid out more cents in every dollar in premiums to members as benefits than the industry average.^* To learn more about HCF go to hcf.com.au/about-us.

^* 88.8% compared to 85.3% across the industry. Calculated based on the average of the past 10 years, sourced from APRA Statistics: Operations of Private Health Insurers Annual Report data 2014–23 and Quarterly private health insurance statistics July 2023–March 2024.

^# Roy Morgan Risk Monitor Survey for the 12 months to December 2024.