Simplyhealth has reached an agreement to sell its Private Medical Insurance (PMI) business to AXA PPP, subject to approval from the appropriate regulatory authorities.

Simplyhealth has been operating in the UK PMI market for 13 years and employs around 400 people in Bristol. It provides health cover for around 20,000 people both individually and through its SME and corporate customers.

On completion Simplyhealth’s PMI centre of excellence in Bristol and employees who work in the acquired businesses will transfer to AXA PPP Healthcare.Simply Health

Following the sale of the PMI business Simplyhealth will continue to offer cash and dental plans.