View more on these topics

L&G sells PMI business to Axa

Legal & General has sold its healthcare business to Axa due to declining sales despite relaunching its proposition six months ago.

L&G has been in the private medical insurance market for over a decade but says it will close to new PMI business at the end of the month.

A statement from Axa says: “We can confirm that Legal & General is in the process of withdrawing from the medical insurance market and that we have entered into an agreement with Legal & General to offer its customers an opportunity to join AXA PPP healthcare when their Legal & General medical insurance policies come up for renewal.

“This will, in the vast majority of cases, enable these policyholders to be covered on an AXA PPP healthcare plan with comparable benefits to those of their Legal & General plan. In cases where this is not possible, customers will be offered the nearest equivalent AXA PPP healthcare plan. In all cases this will happen with continuation of their existing personal underwriting terms.”

Axa says it will not be asking Legal & General customers to provide it with new medical history information or to be newly underwritten.

L&G says it will be contacting intermediaries whose clients are affected by the changes to inform them of how customers can maintain their cover.

AXA PPP healthcare chief executive officer Keith Gibbs says: “We are pleased that we have reached this agreement with Legal & General and we look forward to welcoming its customers to AXA PPP healthcare.

“We are confident that they will be pleased with the quality of our cover and service.”

Sesame protection research manager Dale Tranter says: “Given last year’s product revamp the timing is strategically mystifying from L&G’s viewpoint, so they must have received a very good offer.”


Two most vulnerable groups hit worst by inflation, says Alliance Trust

The over 75s and poor families are hit hardest by inflation, according to a new study by Alliance Trust. Even though headline inflation has dipped, latest show that the over-75s are still the age group being hardest hit by inflation. The elderly faced an annual inflation rate in January of 4.2 per cent, which is […]

Left out in the cold

Worst attempt to get coverage on the back of the recent snowy conditions has to go to those normally reliable folk at Wriglesworth.The lender could still do business despite the cold snap that saw many people up and down the country confined to their homes last week. Wow.The release even featured news of a snowball […]

Jelf flexible benefits

In Focus: How to choose a flexible benefits provider — seven top tips

Jelf Employee Benefits looks at some of the key considerations employers should think about when reviewing and choosing a flexible benefits provider. Choosing the right benefits for your employees is one thing but delivering a successful employee benefits strategy is about understanding the complete picture and delivering it in a personalised way so that it resonates with each and every individual in your business. 


News and expert analysis straight to your inbox

Sign up


    Leave a comment