Wed, 07 Dec 2011 | DIVISION SALE
The largest dental insurance firm in Britain, Denplan, has been placed on the market by its parent Axa UK.
The move is part of a strategic review being carried out at Axa UK, and will follow another of its businesses that was put on the block in late November - Bluefin Advisory Services, which offers financial advice and insurance broking.
The UK division also sold part of its UK life business to Resolution for £2.75 billion in 2010.
The Telegraph reported that sources say Axa is not planning to exit Britain, but to focus on general insurance, wealth management and its remaining healthcare operations.
Operating since 1986, Denplan covers over 1.8 million patients in the UK and 6,500 dentists. The firm also provides loans of up to £25,000 for dental treatments.
Business has increased over the past decade as people have become more smile-conscious, following in the footsteps of those with perfect smiles in the public eye such as Angelina Jolie, Cheryl Cole and the Duchess of Cambridge.
For the year ending December 2010, Denplan reported revenues of £25.4 million and profits of £11.9 million.
Denplan has won numerous awards including the Best Dental Plan Provider award at the 2010 Health Insurance Awards.
Read our previous story on Axa UK mulling sale of Bluefin.
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