Simplyhealth to purchase Groupama Healthcare

Simplyhealth has agreed a deal to purchase the UK healthcare business of Groupama Insurances as it seeks to further broaden the scope of its operations.

The health and dental plans provider will be absorbing Groupama Healthcare as part of the Simplyhealth brand once legal clearance for the deal has been obtained, a process that is expected to take between three and six months.

In doing so, the company will become one of the top five health insurance providers in the UK, expanding its market share and building its presence in the small to medium-sized business sector.

The deal is also expected to safeguard the future growth and development prospects of Groupama Healthcare, which has become an award-winning organisation in the last five years.

Des Benjamin, chief executive officer at Simplyhealth, said: "For the past ten years, Simplyhealth has been looking to add more value and choice to customers through growing a diverse range of products and services."

This comes after the company hired David Cobley as its new underwriting and pricing director last month, as part of its overall growth strategy.