CMA approves AXA acquisition of Simplyhealth PMI

AXA UK delighted to receive CMA approval for acquisition of Simplyhealth PMI business

AXA UK has today received clearance from the UK Competition and Markets Authority (CMA) for the acquisition of Simplyhealth’s private medical insurance (PMI) business.

22 July 2015

Posted in Innovation

The acquisition, announced in May, will see AXA PPP healthcare acquire the private medical insurance (PMI) business of Simplyhealth. Following today’s clearance, completion of the acquisition is expected to be 1 August.

Keith Gibbs, Chief Executive, AXA PPP healthcare

We were presented with an opportunity to significantly increase the number of customers we serve in the UK. We are delighted that the CMA has concurred with us that this transaction will be good for customers and good for the market, and can now progress to completion of the deal and a successful and smooth transition for Simplyhealth’s PMI customers and employees.

The acquisition will enable us to build on both organisations’ deserved reputations for outstanding service and will enable us to offer customers an even broader range of services and support.

Keith Gibbs, Chief Executive at AXA PPP healthcare

In addition to purchasing the Simplyhealth House property in Bristol, the acquisition will see all of Simplyhealth’s employees in the PMI business transfer to AXA PPP healthcare and they will continue to serve their customers as the two businesses come together. AXA PPP healthcare intends to start transferring the underwriting of Simplyhealth’s PMI customers from the end of 2015 and is fully committed to maintaining excellent service and uninterrupted cover for all customers.

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About AXA UK

AXA Insurance UK plc registered in England and Wales under registered number 078950 and authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority under Financial Conduct Authority registration number 202312. Registered office is 20 Gracechurch Street, London, EC3V 0BG.

AXA UK is part of the AXA Group, a worldwide leader in insurance and asset management, with 147,000 employees serving 94 million clients in 50 countries. In 2023, IFRS revenues amounted to Euro 102.7 billion and underlying earnings to Euro 7.6 billion. AXA had Euro 844 billion in assets under management as of December 31, 2023.

In the UK & Ireland, AXA operates through a number of business units including: AXA Insurance, AXA Health and AXA Ireland. AXA UK & Ireland employs around 10,000 staff.

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