Pruhealth's buyout threatens end to PMI's reigning duopoly
The stranglehold that Axa PPP and Bupa hold over the private medical insurance (PMI) market could be loosened, following Pruhealth's acquisition of Standard Life Health (SLH).
Pruhealth has fired a warning shot, saying it intended to "strongly challenge" the dominant players in the PMI market. The £138m deal was completed at the start of August and the combined business now covers 700,000 people and has control of 10-11% of the market.
Dave Priestley, sales and marketing director at Pruhealth, said the healthcare insurer was a strong contender, ready to compete with the big two.
"In the market as it stands, we do intend to take business from our competitors as well as
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