Jonathan Brown will succeed Lord Field of Birkenhead as chairman of health cash plan provider Medicash as Lord Field steps down after 18 years of work at the firm, 10 of those as chairman.
Medicash also revealed that in spite of the pandemic it was seeing sustained business growth, particluarly from organisations adding a cash plan benefit for the first time.
It said 2020 was a record-breaking year for sales with more than 97,000 new policies sold, a 7% increase compared to the previous peak, with 70% of all new business in 2020 from companies who previously had no health cash plan in place.
The group added that 2021 had been equally strong with more than 54,000 new policies sold by 30 June, meaning that it now covered more than 325,000 policyholders across the UK.
Chairman appointment
Brown (pictured) has been a Medicash board member since December and has more than 30 years of experience as a corporate lawyer and specialises in the mergers and acquisitions market, including IPOs, development capital and joint ventures
He currently sits on the boards of Derwent Lodge Estates and PHD Industrial Holdings, while acting as chairman of law firm Hill Dickinson and Praetura Group, a financial services investment and lending business.
Over his career Brown was involved in the sale of Swinton Insurance N.I. to Abbey Insurance and acted for Stobart Group in the acquisitions of a number of businesses including James Irlam & Sons and London Southend Airport Company, the provider said.
Commenting on his appointment, Brown said: “I am very excited to be appointed chairman of an organisation that has over 150 years of history and heritage, and at a time when it continues to grow and innovate within its marketplace.
“I’m taking over the reins when the business is in a very strong position and I look forward to continuing to help shape the firm to keep meeting the future needs of our customers.”
Medicash CEO Sue Weir added: “We are delighted that Jonathan has accepted the role of chairman. He brings with him considerable expertise and experience which will be invaluable to Medicash as we look to continue the growth of the business.
“I would also like to thank Frank for the significant contribution made during his role on the board, including the last 10 years as chairman.”