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Cornhill pulls out of PMI market

Cornhill is pulling out of the UK healthcare insurance market it announced yesterday.


Cornhill which has approximately 1 per cent of the UK private medical insurance market, made the unexpected decision after it said it could not see health insurance being profitable for a smaller player over the long term.


The insurer says it will stop writing new business from September 30.


Healthcare Matters principal George Connelly says: &#34I am very sad at the decision, it was unexpected even the staff have just been told.&#34


Cornhill could have afforded to put premiums up and still remained competitive.&#34

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