AXA to acquire simplyhealth pmi business
AXA has announced that it has reached an agreement with Simplyhealth to acquire its private medical insurance (PMI) business, subject to approval by the appropriate authorities.
Simplyhealth has been operating in the UK PMI market for 13 years.
Keith Gibbs, Chief Executive, AXA PPP healthcare said:
“With its well balanced, stable book of business, Simplyhealth’s PMI business will be an excellent addition to AXA PPP healthcare and this agreement has presented a rare opportunity to acquire complementary business in the UK. We look forward to working with Simplyhealth and its intermediary partners to ensure a smooth transition providing excellent service and continuing cover for all individual and business customers.”
Romana Abdin, Chief Executive of Simplyhealth said:
“This is a deal that makes sense for both sides. The sale of our PMI business will accelerate Simplyhealth’s strategy of investing in everyday healthcare, addressing the everyday conditions that stop people from making the most of life. AXA PPP healthcare has a long-term commitment to the PMI market and this sees them acquiring a business with well-aligned values and great customer service standards. We are delighted to have found a good home for our customers and people in AXA PPP healthcare.”