HEALTHCARE cash plan provider Medicash was boosted by a record take-up of corporate plans as it enjoyed a solid year’s performance.

The mutual, which was founded 140 years ago, said the take-up of corporate plans was 20% better than its previous best.

Client wins included law firm DWF, GMG Radio, Arena and Convention Centre Liverpool and Chess Telecom.

Accounts just filed at Companies House showed premiums written fell £550,000 to £20.4m in 2010, which it blamed on “continuing pressure on household disposable income and redundancies”.

It combated this by cutting operating costs by £870,000 through “strong cost control and a reduction in legal fees”. Claims paid out fell fractionally, to £16.3m.

Medicash’s chief executive, Sue Weir, said: “We are pleased with the results which have been achieved through a combination of product innovation, an increased focus on the corporate market and the commitment of all the staff.

“We operate in a challenging healthcare market and are constantly researching and developing our products to respond to the changing demands of customers.

“In a climate where pay rises and expensive perks may well not be viable options, employers are under more pressure to find solutions around attracting, maintaining and rewarding quality people.”

Pre-tax profits were halved, to £2.34m, but the fall was down to a much lower unrealised gain on investments, of £1.22m. However it did make a net gain of £270,000 in realising some investments.

The lower profits were the result of the markets being less bullish – during the 2009 financial year, the FTSE 100 gained 19% while last year it rose 9%.

Its 2009 accounts also benefited from a £1.27m increase in the value of its John Braddock and Mary Bamber Convalescent Centres and cottage, in Colwyn Bay.

Medicash has been shortlisted in this month’s Liverpool Daily Post Regional Business Awards.

It is up against construction firm Balfour Beatty Capital and housing association Riverside for the Jaguar Land Rover Corporate Social Responsibility award.

It was previously runner-up in the CSR category in 2005 and 2007.