SHEFFIELD-based health insurance provider Westfield Health this week delivered a record financial performance.
It reported sales growth of 29%, an increase in market share to 13.5% and an operating surplus totalling £5.8m.
Chief executive Jill Davies said: “This has been an exceptional year for Westfield, with real progress made across the business despite many challenges including aggressive competitor activity, major upheaval in the NHS and, of course, the difficult economic climate.
“These results place Westfield in a strong position to continue to invest in and grow our business and make it possible for us to further strengthen our products and customer service excellence.”
However, the effects of the recession have been felt by the not-for-profit company, with some people pulling out because of redundancy.
Ms Davies said: “Working with public and private sector organisations across the country, Westfield has been acutely aware of the difficult economic environment in which we all have to live and work. But organisations are continuing to recognise the importance of offering healthcare benefits to enhance their risk management capabilities and help improve staff morale and productivity. This has resulted in a tremendous increase of more than 76% in new corporate sales.”
Extra funds have gone into Westfield’s charitable trust.