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.
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 [...]
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, [...]
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, [...]