From Daily Telegraph on-line, full piece here.
The usual lack of understanding about the way that Denplan works, as pointed out in one of the comments. Whoever buys it will be well advised to change very little – it’s a well managed business and an excellent brand. It’s more about insurance companies and their “strategic reviews” which frequently accomplish change for its own sake and very little else.
Axa has put its dental-insurance business, Denplan, up for sale for a mouth watering £100m, the Daily Telegraph can reveal.
The company, which covers more than 1.8m patients across the UK and 6,500 dentists, is the UK’s biggest dental insurance company.
It has enjoyed a boost over the last decade as more Brits turn to cosmetic dental treatments. Angelina Jolie, Cheryl Cole and the Duchess of Cambridge top lists for sought after smiles in the UK.
Founded in 1986, Denplan also offers loans of up to £25,000 for dental treatment. In the year to December 2010 the company had profits of £11.9m on sales of £25.4m.
The sale follows a strategic review across Axa UK. The division has already offloaded part of its UK life business to Resolution for £2.75bn last year and has put its Bluefin employee benefits arm up for sale.
Despite this, sources close to Axa say the company is not planning a wholsale exit from the UK. Instead it will focus on general insurance, wealth management and the remainder of its healthcare business.