Laing & Buisson report reveals third successful year for Health Shield

Health Shield has delivered the strongest organic growth in the UK health cash-plan market for the third year running, according to a report from Laing & Buisson.

The Health Cover UK Market Report has revealed that, despite continuing economic pressures, which resulted in the volume of demand for UK health cash plans falling by 1.5 per cent in 2011, Health Shield has bucked the trend and increased its overall turnover by £3m.

Rising from fifth to fourth place, in terms of market share by income, Health Shield’s growth reflects its decision to focus solely on the company-paid market. Total contributors in that sector rose by 13.5 per cent in 2011, following similar strong growth (up 11.2 per cent) in 2010 — more than doubling in the past five years, growing by an estimated 120 per cent between 2007 and 2011 inclusive.

According to the annual report, in 2011 the not-for-profit company bolstered its overall turnover to £26m, strengthening its position in the top five of health cash-plan providers. The majority of other leading providers either remained static or decreased their overall turnover during the year.

Laing & Buisson — which provides information and market intelligence on the independent health, community care and childcare sectors — said that key factors driving very strong growth in company-paid subscribers included increased interest from intermediaries, the widening appeal of workplace health solutions as cash-plan benefits, including add-ons such as occupational health, screening and employee assistance programmes, and an increased focus on flexible tailored policy designed by cash-plan providers.

Alternatively for more information about our Health Cash Plans call us on 01270 588 555.

Recommended

Govt pledges LTC funding reforms ‘before March Budget’

The Government is promising proposals on long-term care funding “shortly” and before the Budget, set for March 20. Speaking in the House of Lords this week, health minister Earl Howe said the Government is currently writing laws to implement the Dilnot Commission’s proposals. Andrew Dilnot proposed a cap of £35,000 on care cost, excluding accommodation […]

Santander considers £2bn bid for Yorkshire/Clydesdale branches

Santander is considering a £2bn bid for Yorkshire and Clydesdale banks, according to a report in The Sunday Times. The move follows Santander’s decision to pull out of its planned £1.65bn acquisition of 316 RBS branches last October due to concerns about timescale and integration complications. National Australia Bank announced a strategic review of its […]

7

MM leader: Pension reforms show IFAs were right to be wary of Govt

Individuals with decent work histories who have remained contracted-in to the state second pension are among those who may well feel aggrieved by last week’s Government reforms. Those persuaded to contract back in, or who were automatically contracted back in by their provider following guidance from the regulator, are likely to be particularly annoyed. Although […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com