Pacific Prime Releases Annual Bupa Insurance News Roundup

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Pacific Prime has recently released its annual Bupa news roundup, a quick guide to Bupa's last 12 months in the international private medical insurance industry.

Pacific Prime

Pacific Prime

Bupa has seen another successful year in the IPMI market with several major developments, new acquisitions, and steady overall premiums.

Pacific Prime has recently released its annual roundup of major news stories related to Bupa in the last 12 months. Pacific Prime has begun releasing news roundups every two weeks to help clients catch up on the most important health insurance news stories without spending hours doing so.

Bupa has seen another successful year in the IPMI market with several major developments, new acquisitions, and steady overall premiums.

In the last 12 months, expansion has been a running theme with Bupa. In March, the insurer completed their acquisition of Poland's largest private healthcare provider LUX MED for €400m, making Bupa the new market leader for private healthcare in Poland. Bupa also showed an increased focus in Asia, with a 30% premium reduction for SME clients in China.

One of Bupa's most successful recent developments has been the Bupa Flex plan, which they extended to brokers in September. The plan gained traction in the IPMI market as it has been one of the few plans that successfully combines the best aspects of a medical plan and a travel plan. The Bupa Flex offers quality medical cover in a foreign country, even in non-emergency situations, for a short-term period that's customizable to the day.

In September, Bupa also set up a new Breast Cancer Network and became the first healthcare company in the private sector to be awarded global certification to the Carbon Trust Standard for its efforts on reducing its carbon footprint.

Bupa's premiums over the last 12 months were shown to be stable with a 10.5% average increase across ten major IPMI markets. According to the Globalsurance study, Bupa's premium inflation was locked at 11.7% for the previous two years, thus revealing that Bupa's premium inflation rates are starting to come down.

To read the full Bupa News Roundup, visit http://www.pacificprime.com/resources/news/2013/10/10/bupa-news-roundup/.

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Neil Raymond
Pacific Prime
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