Evelyn Partners has been appointed as administrator to controversial life insurer DeadHappy which had more than 25,000 active customer policies.
The administrator told customers that all policies remain valid following its appointment and they should continue to make payments as they have done previously.
It added that DeadHappy remained regulated by the Financial Conduct Authority (FCA) and the administrators would continue liaising closely with the FCA as the process continues.
Adam Stephens and Kevin Ley of Evelyn Partners LLP were appointed as the joint administrators of DeadHappy on 24 June.
“The administrators are working with the underwriting insurers to ensure that all customer policies transfer back to the insurers with minimal interruption to customers,” the firm said.
“As part of this process the business will continue to trade on a limited basis, with certain employees kept on to assist the administrators with their work.”
Contact with the company should continue through the same channels, it confirmed.
Customers needing to make a claim should email help@deadhappy.com.
Continuity of business
Adam Stephens, partner at Evelyn Partners and joint administrator of Dead Happy, said: “We are pleased to be able to assist with ensuring a continuity of insurance provision for all customers as the business is wound down.
“Evelyn Partners has been working with the DeadHappy management team and major stakeholders to enable a smooth transition for customers.
“We thank DeadHappy management for their support in this process and look forward to concluding the process with a positive outcome.”
Courted controversy
After being founded in 2013 DeadHappy grew to a revenue of £2.5m by 2023, but announced its closure to new business in March 2024 after Shepherds Friendly ceased underwriting its policies.
DeadHappy had a deliberately provocative approach to marketing life insurance products but frequently drew controversy and eventually regulatory intervention and underwriting consequences.
In February 2023 the Advertising Standards Authority (ASA) banned two adverts featuring the infamous serial killer Dr Harold Shipman and told the firm to avoid causing “serious or widespread” offence after it received 115 complaints.
A month earlier the firm apologised after these ads initially provoked more than 50 formal complaints to the ASA.
In 2021 DeadHappy told Health & Protection how it consulted TV advertising governing body Clearcast, which works alongside the ASA, over a new campaign carrying the slogan ‘Please Die Responsibly’, to ensure the ads did not fall foul of the regulator.
And in April 2022, DeadHappy head of brand Ed Edwards told delegates at Protection Review’s ProtectX6 that one of the firm’s drivers of change had been using death wishes to engage with customers.
“Death wishes aren’t morbid or scary. They’re empowering and inspiring – whether they are financial or non-financial. They allow anyone to plan for their death but with a sense of imagination,” he said.