Western Provident Association (WPA) has pulled out of the individual international PMI market.
The move has come in response to the amount of work associated with keeping up to date with increasing levels of regulation throughout the world.
Communications director David Ashdown said: “Increasing numbers of variations in the regulations of different countries meant we decided to pull out of this market.”
He singled out Switzerland and Southern Ireland as causing problems.
The decision means individual international PMI business has not been written by the company since the start of the year.
However, Ashdown added that WPA’s move came in the light of the very small proportion of business that the company conducted in this particular area.
And he stressed that it applied only to individual cover, with WPA still covering all the international needs of its corporate clients.
l For more information on the international PMI market, see this month’s In Focus which starts on page 29