Health insurer targets further expansion to maintain growth trend
BIRMINGHAM-based health insurance and employee benefits provider, BHSF, has seen further growth – with more expansion set to follow.
The company, which provides cover for more than 400,000 people under its health and accident insurance policies, saw total revenue across the group grow by 6.2% last year – with the group’s reserves strengthened by £967,000.
BHSF’s health insurance business saw new insurance applications up by 12% and this strong growth has continued into 2016, boosted by new acquisitions.
One of these saw the BHSF Occupational Health strengthened by the addition of WellWork and of M3OH. Integration of these businesses was completed during the year.
The group, which has a turnover of £40m, said the OH division had seen an increasing flow of new customers, including a number with a strong national presence.
Peter Maskell, Group Chief Executive, said: “BHSF’s rounded health and wellbeing proposition sets us aside from our competitors, none of whom have such a wide range of products and services across health insurance, employee benefits, occupational health and HR support services. Further, being a not-for-profit business means we can give added value.”
He said the group was currently in discussions with two further occupational health businesses which, if acquired, would help improve the group’s nationwide coverage.
In February this year, BHSF appointed Jane Dale as chairman in succession to Dr Paul Kanas, who retired at the end of 2015.
Ms Dale said: “I look forward to using my experience in finance, insurance and the wider commercial world to help grow the business of the group. We are confident that our business plans are robust and that 2016 will be another successful year of service to customers and good performance for BHSF.”
Established in 1873, BHSF is one of the oldest names in healthcare serving over 3,000 client companies and many individual customers. Client organisations include Mondeléz International, Jaguar Land Rover, Birmingham City Council and Home Retail Group.
