The summer months saw Chesnara reveal it was acquiring HSBC Life UK, Doug Wright announce he was bidding farewell to Aviva, Lord Kinnock call for the ending of the VAT exemption of private healthcare and Phil Jeynes disclose he once accidentally poisoned himself.
July
In major acquisition news in July, Chesnara agreed a deal to acquire HSBC Life UK for £260m as the mergers and acquisitions activity in the UK life insurance sector continued.
However, shortly after Health & Protection revealed Chesnara was, in contrast to others’ previous market activity, considering maintaining HSBC Life UK’s new business activities with 230 staff set to transfer.
HSBC estimated it would lose around $100m on the sale.
The month also saw the Income Protection Task Force celebrate its 20th birthday where special guest TV’s Kate Garraway her late husband Derek almost sorted out income protection just before he was taken ill at the start of the pandemic.
The group life sector breathed a sigh of relief as HMRC confirmed group life schemes would avoid Inheritance Tax liability.
L&G launched its Spark health and wellbeing platform in partnership with Spectrum.Life.
The inaugural Independent Doctors Federation’s conference took place where Sir Stephen Powis delivered his final policy speech as NHS England medical director.
England’s Lionesses defended their Euros crown. Defender Lucy Bronze revealed she played the entire tournament with a fractured tibia and Alan Lakey told us the fracture cover pay out for such an injury comes in at around £6,000.
And Dr Doug Wright revealed he would be leaving Aviva after 27 years in the sector.
August
In August, Health & Protection’s annual Individual PMI Report revealed individual membership of private medical insurance (PMI) broke the 1.6 million figure in 2024 but continued growing at a much slower rate.
Former Labour leader Lord Kinnock called for the removal of the VAT exemption on private healthcare which certainly set the cat among the pigeons.
The idea sparked concerns from both the ABI and Independent Healthcare Providers Network (IHPN), while advisers went even further – telling us they thought the former Labour leader’s proposal was “madness”.
We also brought readers an exclusive on Ascend Health Broking Group launching its protection division, Ascend Life.
Mother-daughter duo, Naomi Greatorex and Heather Greatorex told us about the launch of their new business, Heath Mortgage Solutions.
Meanwhile, Alan Lakey revealed an annual health MOT, such as those now commonly included on protection and health insurance policies, could have saved his cancer-stricken dad’s life.
In product news, Aviva launched online insurance for Tesco shoppers and Health Compass and Eleos Health both launched AI assistants.
September
September started with an exclusive from Baroness Natalie Bennett who told Health & Protection it appeared private medical insurance was not being properly regulated and feared industry practices were harming patients.
The Green Party peer’s comments did not go down well with advisers.
To mark World Suicide Prevention Day, we spoke to an adviser working for LifeSearch who secured life cover for a customer who subsequently took their own life.
Unum announced it was entering the cash plan market.
And in another exclusive interview Unum UK CEO Mark Till told Health & Protection the key issues the insurer has been working on, including the move to takeover Generali in the UK and targeting the captives market, and why group risk can provide a solution to soaring PMI premiums.
Ahead of revealing the findings of his Keep Britain Working Review, Sir Charlie Mayfield acknowledged that PMI and group risk have a role in keeping Britain working.
Further big developments from Bupa came with news that Chris Carroll is to succeed Carlos Jaureguizar Ruiz-Jarabo as chief executive officer for Bupa Global, India & UK at the start of next year when Jaureguizar moves to the role of chief executive officer for Bupa’s Europe and Latin America (ELA).
Wes Streeting ruled out VAT on private healthcare, a move advisers welcomed.
And at MetLife’s launch event for their latest Everyday Risks Report Phil Jeynes told Health & Protection how he once accidentally poisoned himself.
