The sale of domestic private medical insurance (PMI) has plumetted, according to new figures released by the UK's second largest health insurance firm, Axa UK.
According to the firm, although more Brits are cancelling their health insurance cover as a bid to make ends meet during the credit crisis, its healthcare trading performance still remains strong thanks to both direct and intermediated sales channels.
Spokesperson from Axa said: "We are continuing to transform Axa UK to operate with increase efficiency and effectiveness and ensure that we come out of the market downturn fitter and stronger."
However, the insurance provider stated that it will be axing around 350 roles in the firms life insurance business in order to streamline the business.
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