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Acquisition boosts insurer.

BIRMINGHAM-based BHSF increased its premium income in 2008 by 24 per cent despite the downturn in the worldwide economy.

The health insurer said the result was achieved largely on the back of the acquisition of Forester Health, now renamed Cash4Health.

The company gained 52,000 policyholders in acquiring Forester Health.

The group made an operating profit of pounds 1.5 million although falls in the value of its investments and properties turned this into a loss after tax of pounds 1.5 million.

Chief executive Peter Maskell said: "We are a long-term investor and although such falls in investment values are of concern, they do not affect our day-to-day trading.

"We are able to meet all our claims payments and expenses out of premiums and investment income so we do not face the need to sell investments for operational purposes."

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Chief executive Peter Maskell: Falls do not affect day-to-day trading.
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Publication:Birmingham Mail (England)
Date:May 7, 2009
Words:152
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