Tony Hulatt, Head of Russell Scanlan’s specialist Healthcare division, has been keeping an eye on changes in the sector that could impact on services and policy options on behalf of corporate and private clients.
It was announced recently that AXA PPP has acquired Simplyhealth’s book of private medical business, subject to regulatory approval. As with all these types of acquisitions, beyond the initial announcement there is little else to report at present as the message from both companies is business as usual but it could be reasonably assumed that the ultimate result will be a re-brand to AXA PPP. Whilst this acquisition brings AXA’s market share closer to that of BUPA, which is interesting from a wider perspective, it does mean that the market consolidates further, leaving only four providers (BUPA, AXA, Vitality and Aviva) with more than 90% of the UK market.
In practice there can be no changes made to a policy until the renewal at the earliest, but we will certainly be keeping a close eye on the situation and sharing updates and advice as soon as available.
Tony Hulatt can be contacted at the Nottingham office directly on 01159 838815 or at email@example.com.