Regulator approves Bupa’s business transfer

The transfer of CS Healthcare’s business and members to Bupa has received its final regulatory approval by the Prudential Regulatory Authority (PRA).

The PRA, which follows clearance from the Competition and Markets Authority and the Channel Islands Competition and Regulatory Authorities, published its approval last week (17 December), which will allow the insurer to carry out the transfer on 1 January 2021.

Members of CS Healthcare overwhelmingly voted in favour of the transfer at the September 2020 AGM.

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Some 17,500 CS Healthcare members will now see access to more health and wellbeing services via Bupa.

Alex Perry, CEO of Bupa UK Insurance said: “We’re pleased that the PRA has approved the transfer of CS Healthcare’s business and members to Bupa, which is the final regulatory step.

“We’re very much looking forward to welcoming CS Healthcare’s members and people to Bupa on 1 January 2021.”

He added: “The transfer offers a number of benefits to CS Healthcare members, including reassurance over the sustainability of their health insurance, enhanced policy benefits and greater access to health and wellbeing benefits to support their physical and mental health.”

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