Clinicare, the private medical insurance (PMI) specialist, has begun trading in its own right. Previ...
Clinicare, the private medical insurance (PMI) specialist, has begun trading in its own right. Previously it has been trading as a subsidiary of parent company Assurances Mutuelles de France.
For the last year Clinicare has been in discussions with the FSA and has now been granted authority to trade as an insurer in its own right.
Managing director of Clinicare, Derry Andrews, said: 'Setting up as a UK insurer has meant a big financial commitment from our French parent. There has been huge investment in the UK and this demonstrates a large amount of faith in the UK operation. As a standalone UK insurer our funds remain in the UK, so we can invest our money in this country, develop it and implement new plans.'
The French parent company has a philosophy of allowing its subsidiaries to standalone. As well as Clinicare in the UK, there are others in Spain, Italy and California. Clinicare will remain wholly owned by its French parent.
The insurer is also launching a new website for intermediaries in May. The site will allow intermediaries to have secure access to information on their customers' policies.
