The UK market for private medical cover flatlined in 2016 with 4.02 million policies covering 6.89 million lives in 2016, some 10.5% of the population, LaingBuisson has found.
The UK market is currently worth £4.83bn, according to the 14th Edition of LaingBuisson's Health Cover market report. Brexit had created economic and business uncertainty, and the rise in Insurance Premium Tax (IPT) in November 2015, pushed up cover prices, both impacting the UK PMI market. This follows a "buoyant" 2015 when two large corporates extended medical cover to their entire employee population - the first significant growth since years of decline after the recession of the late 2000s. LaingBuisson said there was small (0.6%) growth in corporate medical cover policies com...
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