Health Shield has announced gross annual premium income of over £25 million after a year of organic growth.
The cash plan provider earned premiums rose by 4% in 2012. It also recorded the highest annual recruitment figures for new members in its recent history - this increased to 48,085, building on the previous record of 44,743 new members for 2011.
Jonathan Burton, Chief Executive at Health Shield, commented: "Health Shield has seen unprecedented growth, both in its membership levels and its turnover. This has not been achieved by accident - it has been brought about by investing in our staff.
"We firmly believe that the foundation of our success lies in a market-leading product portfolio, which is why we have launched a number of new health cash plans in 2013 to respond to the ever-changing landscape."
In 2012, the number of claims paid increased by 9% to 407,759 in line with the membership increase. In the last year, the Friendly Society paid out 78% of its net contributions (75% in 2011) back to members in the form of benefits.
The Society's balance sheet strengthened at the end of 2012, with total assets under management increasing by 4% to £54.5 million.
