Abbey National Healthcare has applied to the Financial Services Authority (FSA) for permission to tr...
Abbey National Healthcare has applied to the Financial Services Authority (FSA) for permission to transfer its PMI policies over to Norwich Union Healthcare.
The deal means that Norwich Union Healthcare will acquire around 12,500 PMI policies, maintaining its position as the third-largest provider in the market behind PPP and BUPA.
Abbey National originally entered the healthcare market in partnership with Norwich Union in 1997, but has now decided not to take it any further. Tim Baker, commercial director at Norwich Union Healthcare, said: "We were the natural choice to acquire its policies. We look at it as part of the consolidation that is happening in the market. One of our growth strategies is to acquire existing policies from other players."
Abbey National customers should benefit from any additional benefits currently available to Norwich Union policyholders.
