Health Shield has strengthened its position in the UK health cash plan market, according to research.
Laing & Buisson's Health Cover UK Market Report 2013 revealed Health Shield's overall turnover increased by £1 million to £27 million in 2012 - strengthening its position.
The friendly society is the fourth largest health cash plan provider, with 5.5% of market share.
Philip Wood, executive director - sales and marketing for Health Shield, said: "The continued improvement in demand and strong scope for growth of company-paid health cash plans aligns with our marketing strategy working in the corporate sector through intermediaries.
"A key strength of health cash plans is their affordability and flexibility. As such, we believe they will continue to have wide appeal to those individuals and companies looking to cover the cost of everyday healthcare."
This came amid significant growth in the employer funded cash plan market of 15.4%, with businesses spending £58 million on group schemes.
The Laing & Buisson report said key factors driving such growth included the widening appeal of cash plan benefits as for employers coupled with flexibility of cash plan cover, and increased interest from intermediaries.
