Permanent Healthcare (PHC) has acquired Healthcare 4 Life's existing clients, product range and trad...
Permanent Healthcare (PHC) has acquired Healthcare 4 Life's existing clients, product range and trading style in a move which the company believes will bring stability to the Healthcare 4 Life brand name, writes Adele Burton.
John Stafford, managing director of PHC, said: 'We think Healthcare 4 Life has had a chequered recent history with the departure of managing director Hazel Berril. It is time to create stability for both clients and brokers,' he said.
Commenting on PHC's reasons for the acquisition, Stafford said: 'Healthcare 4 Life had reached a stage whereby they could not see a way forward with any private medical insurance product and they wanted to dispose of it to a more established player.
'We have been around for a few years now and we have a relationship with Criterion and GE Frankona who are the insurers and reinsurers of that product. So the relationship in that sense was already established. We also believe it is a product that has a place in the market,' he added.
Stafford said the group plans to look after Healthcare 4 Life's existing clients and broker relationships with plans to develop it in the future.
'No changes will be made for the next few months. However, over a period of time there will be some minor changes in the product. Before making any changes we will have meetings with the brokers who actively sold the product because we are interested in their views,' he said.
With regards to changes in the future, Stafford said that moratorium conditions were tough and they may look at improving them at some stage in the future.
