Groupama Insurance group has bought health insurer Clinicare and will merge it with Groupama Healthcare.
Pierre Lefèvre, Chairman and Chief Executive at Groupama Insurances said: “This is an important acquisition that more than doubles our private medical insurance revenues in the UK. Importantly, it is absolutely in line with the Group’s strategy with regard to healthcare. It supplements our existing UK portfolio and we see a significant opportunity for profitable growth. Clinicare is a high quality, profitable business with excellent people, products and technology. The company and its people enjoy the respect of the UK Healthcare market and will help us take a significant step forward.
We regard this as a highly positive move for Clinicare as well as Groupama. It offers the opportunity to create a substantial healthcare business that can truly offer a genuine alternative for intermediaries and customers in a market that is currently dominated by a handful of major players."
Other pages:News update: December 2005