AXA has sold Denplan to Simplyhealth Group for £115m.
The sale follows the French insurer’s disposal of its UK life business last year, and comes as its advisory service Bluefin Advisory Services – unrelated to the general insurance broking business of the same name – is on the market.
AXA said it has refocused its business on personal and commercial insurance, wealth management and healthcare, and that its healthcare business will in future focus on private medical insurance and associated medical services to individuals and businesses. To this end, it expects to complete the acquisition of Health-on-Line during the first quarter of 2012.
Group chief executive of AXA UK Paul Evans said: “The sale of Denplan allows us to focus our resources on the ongoing development of our extremely successful private healthcare business. We anticipate AXA PPP healthcare will be significantly strengthened by the expected acquisition of Health-on-Line.”
AXA acquired Denplan, as part of the Guardian Royal Exchange acquisition in 1999.
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