William Russell has pledged to maintain renewal premiums and be aggressive in pricing for new business in 2022 with significant discounts available in some regions.
Speaking to Health & Protection about the firm’s plans for the New Year, William Cooper, director of William Russell Europe SRL, (pictured) revealed that following its annual pricing review, health insurance premiums for 2022 have an average premium inflation of 0% compared to 2021.
“This means that, on average, our 2022 health insurance premiums will be the same as our 2021 premiums,” he added.
“We’re also aggressively pricing our premiums for new business, both individual and group. New members will enjoy a 15% discount on their first year’s premium, followed by a 7.5% discount on their renewal premium in 2023.”
The discount applies to all new health plans incepted in 2022 except when the member resides in Hong Kong or the UK, where the discount does not apply.
“Long term, our pricing strategy is to maintain premiums that are fair, reasonable and sustainable for our members,” he added.