Standard Life has completed the sale of Standard Life Healthcare to a subsidiary of Discovery Holdings. Discovery is a leading financial services institution operating in the UK, South Africa, the United States and China.
In the UK, Discovery operates via a joint venture with Prudential through PruHealth a specialist private medical insurance provider.
Standard Life Healthcare has been re-branded as PruHealth.
PruHealth is now the fourth largest UK PMI provider.
Full integration will roll out over the coming months and a product suite building on the best of the current PruHealth range and the range previously offered by Standard Life Healthcare will be launched later this year.
Neville Koopowitz of PruHealth says: "Our vision is to be the best health insurer in the UK and to excel at everything we do. The combined business will result in a complementary product range and assets in distribution and service as well as scale in negotiations to benefit clients.”