News and Press

Fenchurch advises Bupa on the sale of its UK protection and risk business

Fenchurch Advisory Partners is pleased to announce that it is acting as exclusive financial adviser to Bupa, the international healthcare group, on the proposed sale of its UK protection and risk business, Bupa Health Assurance Ltd (BHA), to Resolution Ltd, a leading UK financial services business, for £165.15m, representing 79% of the forecast embedded value at completion on a Bupa basis. The sale is subject to regulatory approval.

The decision to sell BHA reflects Bupa’s intention to focus on its healthcare businesses, including its health insurance products and services in the UK.

Dr Natalie-Jane Macdonald, Managing Director, Bupa Health & Wellbeing, the parent company for BHA, said: “We are proud of Bupa Individual Protection and Bupa Group Risk, which both have reputations for high-quality products and customer service. Our decision to sell is based on strategic fit. The sale will allow Bupa Individual Protection and Bupa Group Risk to benefit from belonging to a company with a strong focus on both protection and risk. Importantly, this decision also allows Bupa to concentrate on healthcare products and services.

As part of the agreement, all employees at Bupa Group Risk and Bupa Individual Protection will transfer to Friends Provident, part of Resolution. In addition to the proposed sale of BHA, Friends Provident and Bupa have agreed to work together to explore ways in which Friends Provident can introduce the Bupa private medical insurance product to its distribution channels and markets and Bupa can introduce the Friends Provident insurance products to its distribution channels and markets.

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