The Competition and Markets Authority (CMA) has cleared the acquisition of Simplyhealth's private medical insurance (PMI) business by AXA PPP.
The acquisition is expected to be completed by 1st August 2015.
As part of the acquisition, Simplyhealth House in Bristol will be sold to AXA PPP and all Simplyhealth's PMI employees will join AXA PPP.
The underwriting of Simplyhealth's PMI customers will start transferring from the end of 2015.
Keith Gibbs, chief executive of AXA PPP healthcare said: "We were presented with an opportunity to significantly increase the number of customers we serve in the UK.
"We are delighted that the CMA has concurred with us that this transaction will be good for customers and good for the market, and can now progress to completion of the deal and a successful and smooth transition for Simplyhealth's PMI customers and employees.
"The acquisition will enable us to build on both organisations' deserved reputations for outstanding service and will enable us to offer customers an even broader range of services and support."
Further Reading:
Simplyhealth sells PMI business to AXA PPP
AXA PPP welcomes CMA fine for Consultant Eye Surgeons Partnership
