Simplyhealth Acquires Groupama Healthcare

03/08/2011

Simplyhealth has announced today that it is due to acquire Groupama Healthcare later this year, subject to FSA approval.

Rebranding will take place over the next three to six months and all servicing will remain at Groupama's offices in Letchworth until then. Groupama has informed us that it is 'business as usual' until the rebranding occurs, all products, client servicing and renewals will continue as normal.

François-Xavier Boisseau, chief executive at parent company Groupama Insurances, said the healthcare business had been "unable to achieve the critical mass required to ensure that our business consistently delivers the levels of profitability necessary to ensure its long term success".

Des Benjamin, chief executive at  Simplyhealth, said: "By acquiring Groupama Healthcare, an award winning business, we have the opportunity to build greater presence in the small to medium business sector and grow market share. Following the completion of this latest acquisition we will join the UK’s top five health insurance providers."