APRIL UK withdraws from PMI market

Published on

Protection and health insurance provider, APRIL UK, is closing its private medical insurance plans to new business and will be withdrawing from the UK PMI market.

The announcement has been made following the decision by its insurance partner to stop bearing risks of its private medical insurance portfolio.

APRIL UK has confirmed that only the private medical insurance activities of April UK are affected. Other UK focussed business lines including income protection, life insurance, personal accident and health cash plans are unaffected.

Existing UK private medical insurance policies are unaffected until renewal. APRIL UK will inform customers prior to renewal that they will not be able to issue renewal terms.

APRIL UK will provide support for both brokers and clients as they transition out of APRIL UK. Details of the support packages available will be confirmed directly to affected brokers and their clients.

The decision does not affect APRIL International UK, the Group’s IPMI subsidiary or Medibroker, a direct broker in international health insurance. The three companies have always been separate entities within the April Group.

APRIL Group says that there will be no impact on 2018 financial perspectives.

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Newcastle for Intermediaries adds three-year fix range to mortgage offering

Newcastle for Intermediaries has introduced a new range of three-year fixed rate products. It said...

Mortgage product availability surpasses 25,000 for the first time

The number of mortgage products available in the UK has reached an all-time high,...

ASG Finance launches loan for HNW investors

ASG Finance has introduced its latest funding initiative: the ‘Base Rate Beater’ secured investment...

Other news

Why it matters that bridging hit more than £10bn last year

We see many numbers bandied around in the financial industry, which can sometimes have...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Newcastle for Intermediaries adds three-year fix range to mortgage offering

Newcastle for Intermediaries has introduced a new range of three-year fixed rate products. It said...