April UK withdraws from health insurance market
Exclusive: April UK has withdrawn from the UK health insurance market with immediate effect.
The health insurance specialist will no longer offer its health scheme to new business, an email sent to customers by broker Halo Consulting reveals.
In 2016 April UK’s operating profit fell to £357,818, down from £715,472 in 2015, Companies House filings show.
The 2016 filings suggest that April UK was facing “strong competition within its chosen markets and thus pressure on market share.”
At the time, its annual report stated: “New products and routes to market are constantly being sought in order to mitigate this risk.”
It is not known how many employees will be impacted by its decision to end its UK health operations. The company paid out £1.69m in wages and salaries in 2016.
Data is not yet available for its 2017 financial year.
April UK is part of the April Group, which operates in 31 countries and has a wholesale broker in France. The group employs 3,800 staff worldwide, according to its website.
It works with 20,000 distributors worldwide, with 26% of its group margin produced outside of France.
April Group has not yet responded to requests for comment.
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