Bupa agrees sale of health assurance arm
Oct 16 2010 Huddersfield Daily Examiner
THE owner of Friends Provident has unveiled a deal worth £165m to buy Bupa’s operations in critical illness and life insurance cover.
Buy-out firm Resolution said its move for Bupa Health Assurance would bolster its position in the group income protection market.
It already has a strong presence in the corporate pensions and individual protection markets.
The Bupa business, which is based in Bristol and employs nearly 300 people, provides companies with tailored packages that offer income protection, critical illness and life insurance to their employees. The division also offers the same products to individuals.
Bupa said the sale would enable it to focus on its healthcare business, including health insurance products in the UK.