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Expatriate medical insurance customers are increasingly turning to British banks for their needs instead of the financial institutions in their adopted country, research has found.
The Lloyds TSB International Expat Survey revealed that almost two-thirds (62 per cent) prefer to bank with a company in the UK for their financial products, pensions and insurance needs.
Only five per cent of respondents relied on their bank for expatriate health insurance cover, but despite almost nine in ten expats living abroad for more than five years, over half (55 per cent) still had an account with a British bank.
In addition, 80 per cent said they still hold money in sterling.
The bank's managing director Jakob Pfaudler commented: "It is reassuring to see that so many British expats are confident in the future of sterling which, after depreciating over the past few years, has stabilised as the economic recovery has taken hold."
Findings from the study also confirmed that sterling is viewed in a positive light, with 44 per cent of expatriates expressing confidence in the currency, compared with 11 per cent who were most confident about the euro.
A recent survey by NatWest revealed that seven out of ten British expats who have relocated abroad plan to stay in their adopted country.
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Expatriate Group & Expatriate Healthcare are trading styles of Strategic Insurance Services Limited who is authorised and regulated by the Financial Conduct Authority (FCA). FCA Firm reference Number is 307133. Strategic Insurance Services Limited is authorised to carry on Regulated Activities in accordance with the permissions granted by the FCA under PART IV of the Financial Services and Markets ACT 2000.