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Daily Insurance Industry News
Tuesday 21st of November 2017
October 15, 2010

Bupa offloads UK protection and risk business

by Gill Montia

Story link: Bupa offloads UK protection and risk business

Bupa has announced that it is selling its UK protection and risk business, Bupa Health Assurance, to consolidator Resolution Ltd, for £165.15 million.

The move reflects the group’s intention to focus on its healthcare businesses, including its health insurance products and services in the UK.

Bupa Health & Wellbeing manging director, Dr Natalie-Jane Macdonald, comments: “Our decision to sell is based on strategic fit.”

She adds: “The sale will allow Bupa Individual Protection and Bupa Group Risk to benefit from belonging to a company with a strong focus on both protection and risk.”

As part of the agreement, all employees at Bupa Group Risk and Bupa Individual Protection will transfer to Friends Provident, part of Resolution.

In addition, Friends Provident and Bupa have agreed to work together to explore ways in which they can introduce their products to one another’s distribution channels and markets.

Bupa says it is in the process of contacting customers and distributors about the proposed sale, to ensure a smooth transition through the change in ownership.

 

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