AXA UK has completed the acquisition of specialist on-line health insurance provider, Health-on-Line.
The insurer said the deal significantly strengthens AXA PPP healthcare's capability as a multi-channel distributor in the UK private health insurance market.
Itv intends to leverage Health-on-Line's IT capability for development of lower-cost cover, in a bid for growth by attracting new market entrants.
The deal also enables Health-on-Line and AXA PPP healthcare to accelerate promotion of lower-cost modular products for UK-based individuals and SMEs, which were first introduced in September 2011.
Commenting on the acquisition, AXA PPP healthcare chief executive Keith Gibbs said: "Health-on-Line, as well as being a well-run, profitable business, is closely aligned with two core areas of AXA PPP healthcare's strategy.
"Whilst we already have significant market share in private medical insurance, Health-on-Line will enable us to develop more affordable options - which will be aimed both at consumers and at the micro/SME market.
"Initial sales of our AXA PPP Select and Health-on-Line Priority Health modular products look very promising and the offering seems to be attracting customers who are new to private healthcare, which was our intention".
AXA PPP has been Health-on-Line's underwriter and claims handler since 2005.
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