Capricorn Mutual reaches $100 million in sales

It is an outstanding record for CML’s not-for-profit 20-year history in Australia and New Zealand

Capricorn Mutual Limited (CML), Capricorn’s non-profit Mutual, has reached a record-breaking $100 million in sales. CML sales exceeded $100 million in 2022 despite having paid out record sums for claims during one of Australia’s biggest natural disasters in early 2022. More than 200 Capricorn members affected by the devastating New South Wales and Queensland floods received approximately $35 million in support from CML. Capricorn Risk Services Chief Executive Officer, Jim Glossat, said the $100 million milestone was a huge achievement for the Mutual, with the business growing by $50 million in sales over just the past five years. “It is recognition of the sustainable nature of our Mutual operating model, which relies on a focus on the automotive industry, face to face service and the support of our Members,” Jim said. “Being a Mutual - whereby Members are the owners of the business as well as its customers, means we can focus solely on our purpose, which is to support our Members in their greatest times of need without having to worry about external investors wanting their share of the profits. “In particularly good years where claims costs have been lower than we expected, we return excess profits directly back to Members in the form of a Loyalty Rebate, reducing the out-ofpocket cost of protection. “The remaining profits are reinvested back into the business in the form of additional services and improved pricing to ensure our Mutual provides a product our Members need, at a competitive price.” Over 10,000 Capricorn Members, just under half of the entire membership, are also Capricorn Mutual Members. “With the support of our Members, Capricorn Mutual can boast a strong financial footing with higher than 10 percent annual growth and the capacity to pay claims when Members need us most,” Jim said. “This is a well-established business that pays its own way and will be there for its Members well into the future.” As a non-profit mutual established to provide Capricorn Society members and their associates a competitive alternative to insurance, Capricorn Mutual says it offers market leading protections tailored to the Motor Trades industry. For more information about Capricorn or to learn more about CML, visit www.capricorn.coop/risk or call 1800 327 427 (NZ 0800 401 444).

CASTROL LAUNCHES ‘CASTROL ON MARS’ PODCAST SERIES

The eight-episode series is available on all major podcast platforms

Global lubricants leader Castrol has launched ‘Castrol on Mars,’ an entertaining and informative new podcast series which takes listeners inside the minds of a diverse range of innovators and pioneers. Each tells their story about what it takes to perform in some of the most extreme conditions on the planet – and even in outer space. Available on all major podcast platforms, the eight-episode series includes commentary from astronauts Sandra Magnus and Robert Thirsk who describe how they dealt with the extremes of outer space, while Sarah Cruddas, a space journalist, international TV host and award-winning author, discusses what NASA’s Mars Perseverance Rover is contending with during its extraordinary mission. Castrol’s oils and lubricants are currently performing 250 million miles away in temperatures as low as minus 153 degrees Celsius on NASA’s Mars Perseverance Rover. These include Castrol’s specially developed Braycote greases and Brayco oils which provide essential lubrication to scientific instruments, including a weather station, ultraviolent spectrometer and laser micro imager. Closer to home, Formula E’s Sam Bird and World Rally’s Gus Green-Smith describe what it takes to claim victory behind the wheel in top-level racing, while David Eyton, bp’s former head of innovation and engineering, gives his perspective on the challenges faced by engineers and scientists when developing products that need to stand-up to extreme pressures. The ‘Castrol on Mars’ series has already received the top award in the ‘Documentary’ and ‘Technology’ categories at the prestigious Communicator Awards. “Our new podcast series highlights what’s required to perform in some of the most far-flung, extreme environments,” Castrol Global Communications’ Elizabeth Jones, said. “Through engaging and personal stories from some of the world’s adventurers and individuals, workshops can utilise these assets to build trust, win sales and enhance their connection with the wider Castrol brand.” Whether chosen by NASA or workshops back here on Earth, Castrol says its products can always be trusted to deliver performance under even the most demanding conditions. To learn more visit www.castrol.com.au

Castrol’s oils and lubricants are used by NASA’s Mars Perseverance Rover, currently operating in temperatures as low as minus 153 degrees Celsius