Edinburgh-based finance firm Standard Life is to sell its private medical insurance arm for £138m to the South African group Discovery Holdings. Standard Life said its healthcare arm was not core to its UK strategy and it would focus on the long-term savings and investments market.
A total of 562 employees will transfer to the new company as part of the transaction. The deal needs regulatory approval but should go ahead by 31 July. Standard Life Healthcare is the fourth largest provider of private medical insurance (PMI) in the UK and last year made a profit before tax of £9.4m.
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment