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.