The Permanent Health Company (PHC) has sought to reassure advisers' and quell concerns that its new five year underwriting deal with Axa PPP will eventually result in a takeover.
However brokers remain unconvinced by the move and fear it will lead to another private medical insurance (PMI) provider leaving the market. As COVER reported earlier, PHC sent a wave of unease through the market when it announced the agreement on its website. But the firm sought to halt any rumours of its potential purchase by Axa PPP and said it was simply performing a regular review of its services. John Stafford, managing director of PHC, told COVER that he sympathised with advisers but was adamant that selling up had never been considered. "We are not pulling out in anyway ...
To continue reading this article...
Join Professional Adviser
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.