The private health insurance industry, appears to have been unaffected by the credit crunch and has seen, a growth rate of more than ten per cent, recent figures have shown.

In the first six months of 2008, the health insurance provider, Bupa has experienced a growth rate of 10.2 per cent. Where other industries, were feeling the crunch, the health insurance industry was maintain and growing at a positive rate.

In July this year, Bupa bought into a 26 per cent portion of Max India Limited, in the hopes of merging the company to become, Max Bupa Health Insurance Ltd. The newly merged firm will provide health insurance products to both customers and businesses.

Ray King, the chief executive of Bupa said: "While we cannot expect the group to be immune to the growing economic weakness in major economies, we expect Bupa to demonstrate resilience due to its breadth of activities in terms of geography and sector, and focus on health.

"The health and care markets that we serve remain very attractive and Bupa's main businesses have leading market positions. Our strong cash generation will enable us to continue to invest in our existing businesses and in new areas, such as our recently announced health insurance joint venture in India."