PMI Health upbeat after record year
MEDICAL insurance broker PMI Health Group is defying the economic gloom after hitting record sales figures.
Based in Wincham near Northwich, Cheshire, PMI is the country’s largest independently-owned specialist provider of employee healthcare and risk management services.
In the year to June the company, which has around 130 staff, saw turnover increase 9.5% to a record £7.8m. Gross premuims – the values of policies sold – were £80m.
Managing director Richard Munro, 48, said: “This is excellent news – we are delighted with the figures. The record growth is testament to all the hard work our staff have put in over the past year and the excellent response we have had to our service offering.”
PMI, whose clients range from SMEs to FTSE-listed companies enjoyed growth in its medical insurance, group risk and absence management divisions.
Mr Munro added: “These figures go a long way to strengthening our position as one of the leading health providers on the market. We will continue striving to offer the very highest quality of service.”
Founded in 1984, PMI, which originally stood for Private Medicine Intermediaries, is majority owned by Cheshire businessman Chris Baldwin.
Mr Munroe, who has an equity stake, said there were “no current plans” to change the ownership of the business, adding: “We have plenty of cash in the bank.”
“We have worked very hard to grow the business over time and we are looking to continue this. Our growth has been organic and while we have no acquisitions planned, if something came up at the right price we’d be interested.”
Meanwhile, PMI has appointed two new board members. Mike Blake and Ian Green have been appointed as compliance director and director of field sales respectively.
