Bupa reports flat figures for UK private health insurance

Bupa, the country’s largest private medical insurance provider, has reported a stable set of half-yearly figures for its health insurance business in the UK, while its international business has continued to generate growth, the company said.

It said that membership numbers in the UK were still flat for the first half of 2010, with a decrease of only 0.8 per cent since the end of 2009. However, it did point out that its strategy of diversifying internationally had increased its overall underlying surplus by 5 per cent over the same period. With Bupa keeping a close eye on costs, its individual protection business did experience an increase in revenue, despite it being hit by an increase in claims.

The firm is hoping that the figures mean the worst is over for the health insurance market, and also that the promised reforms of the UK healthcare system by the new coalition government could provide some excellent opportunities for growth.

On the international front, the firm reported an increase in both revenue and surplus, despite membership numbers falling by 4 per cent. This side of its business, which offers expatriate private medical insurance for individuals and companies, saw revenues and surplus increase due to price increases and favourable foreign exchange movements.