Megapolis Insurance

Groupama is selling is UK healthcare business to competitor, Simplyhealth, which is keen to grow a more diverse range of products and services.

Simplyhealth chief executive officer, Des Benjamin, explains: “By acquiring Groupama Healthcare, an award winning business, we have the opportunity to build greater presence in the small to medium business sector and grow market share.

On completion of the transaction, Groupama Healthcare will be rebranded to Simplyhealth, at which point Simplyhealth should take its place among the UK’s top five health insurance providers.

Groupama Insurances chief executive officer, François-Xavier Boisseau, says the business is being offloaded because it has been unable to achieve the profitability required to ensure long-term success.

He comments: “We concluded that it would be beneficial to identify a new owner with the scale and resources necessary to offer the support required to build on the progress we have made.

Currently, the French insurers main focus is developing its general insurance business.

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