Westfield Health has reported a record operating surplus for the last financial year.
The cash plan provider paid out £36m to policyholders in claims while premium income reached £53m for the period from April 2009 to March 2010.
It retained its cash plan market share at 13% and holds 42% of the corporate-paid market, with more than 350,000 policyholders in total.
The insurer said the strong performance had been achieved by implementing efficiencies that lowered operating costs and that the company was in a robust financial position with a significant amount of assets relative to its size.
Jill Davies, chief executive of Westfield Health, said that the results have been achieved despite the continuing unpredictability of the economic conditions and an increasingly competitive health cash plan market.
"The operational surplus is very important to us as it has limited the impact of the volatile economy," she explained.
"As a not-for-profit company, the significant savings have given us the opportunity to invest back into all areas of the business," she added.
