AXA to acquire Simplyhealth’s private medical insurance business

AXA today announces that it has reached an agreement with Simplyhealth to acquire its private medical insurance (PMI) business, subject to approval by the appropriate authorities.

13 May 2015

Posted in Partnerships

by John DuBois (see media contact)

Simplyhealth has been operating in the UK PMI market for 13 years.  Employing around 400 people in Bristol, it provides health cover for over 200,000 people, individually and through its SME and corporate customers.

The acquisition will further strengthen AXA’s presence in the UK healthcare market and clearly evidences its continuing commitment to being the preferred provider in each of its key strategic business areas.  

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.  Both companies share a commitment to offering outstanding customer service, supporting their local communities and being an employer of choice.  

“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.”

Under the terms of the agreement, nearly all of Simplyhealth’s 390 Bristol employees will transfer to AXA PPP healthcare under a TUPE arrangement, in addition to a small number of Simplyhealth employees based at other Simplyhealth locations in the UK.  The PMI business will continue to operate from its Bristol premises, which AXA PPP healthcare is acquiring as part of the transaction.