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PruHealth takes £30m in its first two years

PruHealth has pulled in £30m of new business two years since launching into the UK market.

The private medical insurance provider now has 80,000 UK policyholders, 85 per cent of which were intermediary-based sales.

Pru says its strategy of rewarding people for looking after their health, such as reducing premiums for clients who go to the gym, has resul-ted in lower claim rates against the firm.

Pru says it will continue to urge healthier individuals to consider private medical insurance as a way of narrowing the protection gap.

Sales director Dave Priestley says: “We have grown the individual market. A third of our individual customers are people who have never previously bought PMI and we are convinced that our product can grow the broker market too.

“We want to continue to encourage the nation to become fitter and healthier as well as rewarding them for doing so. We will ensure they are covered when they are ill and can access the treatment they need, but it is only if we can encourage healthier people into the PMI pool that we can find a sustainable solution to premium inflation.”


Fidelity to remove higher initial charge on special situations fund

Fidelity is to remove the higher initial charge on new investments in the Fidelity special situations fund from November 1 2006.Following the split of the fund into UK and global mandates last month, it will now remove the initial charge on unwrapped lump sum investments into the original special situations fund from 5.25 per cent […]

Woolwich praised as service improves

Woolwich has been hailed for dramatically improving its service to brokers after coming through a turbulent period. John Charcol senior technical director Ray Boulger said earlier this month he has noticed a major service improvement since Woolwich ditched Global Home Loans as its outsourced servicer and other brokers have added their voice to the growing […]

Overseas mortgage market expected to grow, says A&L

Brokers are expecting a huge increase in the amount of overseas mortgage business completed over the next decade and a half.A new study shows that 68 per cent think they will do more business in the overseas mortgage market in the future. The Alliance & Leicester research shows nine out of ten of them think […]

Tiner says principles don’t mean new FOS rules

The FSA has moved to allay concerns that the move to principle-based regula-tion and the rewriting of Cob will result in the Finan- cial Ombudsman Service creting new rules to fill the vacuum. Speaking at the Apcims annual conference in Bar- celona last week, FSA chief executive John Tiner said he acknowledged industry worries that […]


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