Medicare firm aims for London

E-TeleQuote, which markets private sector health insurance, yesterday unveiled plans for an initial public offering on London's junior market, Aim. The Florida-based company, which is an independent broker of specialist health insurance to over-65s in the US, wants to raise £15m as part of its flotation. It specialises in direct marketing of health insurance related to the government-funded Medicare medical insurance. The group is focused on the sale of Medicare Supplement and Medicare Advantage policies, the second being a high growth subset of the overall Medicare system, currently serving 15m people out of the 44m-plus total. Founded in 2011, e-TeleQuote grew its total number of insurance policies from 270 on 30 June, 2012 to 6,219 as of 31 January this year.