AXA to sell whole of market healthcare intermediary

AXA to sell its whole of market healthcare intermediary

AXA announced today that it had entered into an agreement to sell its whole of market intermediary, Health and Protection Solutions Ltd (trading as “The Health Insurance Group”). The transaction is expected to complete in the second quarter, subject to regulatory approvals.

11 June 2018

Posted in Innovation

The Health Insurance Group is a leading whole of market healthcare broker, providing health and wellbeing solutions to both individuals and businesses.

Highbridge Principal Strategies (HPS) and Madison Dearborn Partners (MDP) will acquire The Health Insurance Group into a jointly owned entity (Nevada Investments Topco). Both HPS and MDP are leading US private equity firms with a growing portfolio of leading UK broking brands, including a major shareholding within The Ardonagh Group.

“The Health Insurance Group joined AXA in 2008 and, in the past ten years, has formed a strong part of our business. However, as part of AXA’s strategy in the UK, we have concluded that whole of market intermediaries who offer advised sales are best placed within businesses focussed on distribution, and this transaction will allow The Health Insurance Group to form part of a portfolio of leading broking businesses. We look forward to continuing to work closely with THIG to provide AXA PPP solutions for their customers.”

Keith Gibbs, Chief Executive, AXA PPP healthcare

“We can confirm we are currently finalising the purchase of The Health Insurance Group from AXA. As an award winning independent health insurance and wellbeing broker with a strong track record of growth, THIG will be an ideal addition to our growing portfolio of UK insurance assets.”

Matthew Raino, Managing Director, MDP

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About AXA UK

AXA Insurance UK plc registered in England and Wales under registered number 078950 and authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority under Financial Conduct Authority registration number 202312. Registered office is 20 Gracechurch Street, London, EC3V 0BG.

AXA UK is part of the AXA Group, a worldwide leader in insurance and asset management, with 147,000 employees serving 94 million clients in 50 countries. In 2023, IFRS revenues amounted to Euro 102.7 billion and underlying earnings to Euro 7.6 billion. AXA had Euro 844 billion in assets under management as of December 31, 2023.

In the UK & Ireland, AXA operates through a number of business units including: AXA Insurance, AXA Health and AXA Ireland. AXA UK & Ireland employs around 10,000 staff.

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