British insurer Aviva said demand for private health services continues to surge as more individuals and businesses seek alternatives to the national health service.
The UK-based insurer said Thursday that sales of private health insurance were up 25% in the first quarter and 14% last year.
As the state-funded NHS struggles with mass strikes, budget constraints and long waiting times, UK patients are increasingly turning to private options.
Aviva CEO Amanda Blanc said in a telephone interview that customers who choose to pay for private care are seeking access to online doctors as people become increasingly concerned about not being able to get a doctor’s appointment quickly. Said you are buying the full package including.
“I don’t see this momentum stopping anytime soon,” Mr. Bran said of the upward trend in healthcare sales. “Volume is very strong.”
Aviva said in its first-quarter trading report that rising interest rates boosted pension sales, while rising wages led to higher contributions, resulting in a 25% increase in flows in the workplace pension business.
Aviva said net asset flows were £2.3bn ($2.9bn), representing 6% of assets under management at the start, but continued market volatility meant it was lower than in Q1 2022. It is said to have decreased by 15%.
The company has set its dividend guidance for 2023 at around £915m.
Photo Credit: Jason Alden/Bloomberg
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