View more on these topics

Health Shield delivers strong growth for fourth year, says market research report

Health Shield has strengthened its position in the UK health cash plan market, delivering strong organic growth for the fourth year running, as confirmed in the latest market research from Laing & Buisson.

The Health Cover UK Market Report 2013 has revealed that the non-profit-making Friendly Society is the fourth-largest health cash plan provider, with 5.5 per cent of the market. It shows that Health Shield’s overall turnover increased by £1m to £27m in 2012, strengthening its position.

According to the report, the number of health cash plans funded by companies rose strongly in 2012 by 15.4 per cent, with businesses spending £58m on group schemes. This follows similar strong growth in 2011 (up 13.5 per cent) and 2010 (up 11.2 per cent) — more than doubling in the past six years and growing by an estimated 153 per cent between 2007 and 2012.

This compares with demand for individual health cash plans, which remained largely static, increasing by 0.1 per cent to reach a total of 2,601,000 contributors at the end of 2012. It follows consecutive annual falls in the preceding four years.

The Health Cover UK Market Report is published annually by Laing & Buisson — a provider of information and market intelligence on the independent health, community care and childcare sectors.

It stated that key factors driving very strong growth in company-paid subscribers included the widening appeal of cash plan benefits as workplace health solutions for employers coupled with the strong flexibility of cash plan cover and increased interest in company-paid business by intermediaries.

The report follows another successful year for Health Shield. The 2012 annual results revealed that the organisation increased overall active membership by a further eight per cent. It now provides cover to more than 150,000 members plus their families.

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

Recommended

OneSavings Bank roars back into profit in H1

One Savings Bank has confirmed pre-tax profits of £10.2m for the first half of 2013, rebounding from a loss of £600,000 over the same period in 2012.

Going above and beyond – and staying profitable

It has often been said that, in a service industry, the best client service is based on delivery ‘above and beyond’. But how can third-party mortgage servicers exceed client expectations and still remain profitable? Lenders’ requirements of us have changed markedly post-2007. Historically, they would outsource to manage the volumes of new lending being originated […]

David-Finlay-MS-CUTOUT-250x255.jpg

Gross lending is a good news story

As I write this I’m desperately trying to ignore the almost magnetic pull towards tenuous royal baby links, puns and clichés whilst also counting the number of not such great news stories desperately trying to be buried amidst the somewhat overbearing media frenzy. But, thankfully, the general mortgage market has no such bad news to […]

Newsletter

News and expert analysis straight to your inbox

Sign up
Close

Why register with Mortgage Strategy?

Mortgage Strategy continues to be the market-leading B2B mortgage publication in the UK, and provides trusted, independent insight with the aim of helping, promoting and analysing the latest developments for mortgage professionals.

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

Mortgage Strategy Events
Be the first to hear about our industry leading conferences, awards, webinars and more.

Research and insight
Take part in and see the results of Mortgage Strategy'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