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AIG buys Ellipse

AIG has agreed to purchase Ellipse from Munich RE for an undisclosed sum. Ellipse is a UK based life provider which currently holds £64m of premiums, covering 370,000 lives. Ellipse currently offers life, income protection and critical illness cover. The transaction is subject to FCA approval and is expected to complete early 2019.

July 10th, 2018|

Spire Healthcare rejects takeover bid

Spire Healthcare has rejected a bid which values the business at £1.2bn. Spire is Britain's largest private hospital chain. Mediclinic, a South African healthcare provider already holds a 29.9% shareholding in Spire, made the offer last week which was rejected by Spire, the offer being described by chief executive Danie Meintjes as 'significantly undervaluing Spire [...]

October 30th, 2017|

Further Rise to Insurance Premium Tax (IPT)

Insurance Premium Tax (IPT) is set to rise to 12% in June 2017 as announced in the Autumn Statement, this is a further increase from  10% which came into effect from 1st October 2016 up from a previous 9.5%. This will be the third rise in two years. Announcing the extra 2% increase to IPT, [...]

December 7th, 2016|

AVIVA To Launch New Cancer Cover Plan

AVIVA Healthcare has announced that it is set to launch a new healthcare plan that provides cover at a low cost for treatment of cancer in January 2016. £100,000 worth of cover is available to go towards drugs not currently funded by the NHS, in addition the policy will provide a cash sum on diagnosis, [...]

December 1st, 2015|

Insurance Premium Tax Rise

On the 1 November, Insurance Premium Tax (IPT) rose from 6 percent to 9.5 percent, the rise will affect policies renewed or taken out after the beginning of November, and in some cases mid-term adjustments. Each Insurer has their own set of rules as to how the rise is being implemented.  All types of insurance that [...]

November 10th, 2015|

Aviva and VitalityHealth form joint treatment purchasing venture.

Aviva Healthcare and VitalityHealth have announced they are to form a joint venture to purchase treatment from private and independent hospitals in the UK. The two insurers have said that the venture is to allow them to purchase more affordable treatment for their customers through their combined purchasing strength. The new company called 'Healthcare Purchasing [...]

November 5th, 2015|

AXA-PPP completes acquisition of Simplyhealth’s PMI business

Following approval from the UK Competition and Markets Authority, AXA-PPP has now completed the transaction for Simplyhealth's PMI business. Transfers for existing customers are likely to begin towards the end of 2015 and 2016, Simplyhealth will be writing to all policyholders to confirm details of the acquisition, and when policies will transfer over to AXA-PPP, [...]

August 1st, 2015|

Simplyhealth to sell PMI and Trust business to AXA-PPP

Simplyhealth, Britains fifth largest Private Medical Insurer has reached agreement to sell it's book to AXA-PPP Healthcare. Subject to regulatory approval, the deal will help AXA-PPP's further expansion in the sector. Simplyhealth will continue to provide cash plans and dental benefits in an effort to concentrate more on 'everyday healthcare'. The sale is said to have [...]

May 14th, 2015|

Bupa Global launches tiered iPMI products in UK

Bupa Global this week launched a range of international private medical insurance (iPMI) products in the UK. The four products – called Bupa Global Select, Premier, Elite and Ultimate Health Plans – are tiered on coverage and price. The move in the UK follows news the launch of a similar collection of tiered products in [...]

February 11th, 2015|