The management of SBJ Global Risks, parent of the MediCare International private health insurance business, is to acquire the operation from Bluefin Group Ltd, a subsidiary of AXA UK.
The acquisition will be made by a new company established by SJB Global Risks’ management. Its board includes Howard Steeples and Simon Rice, who are respectively chairman and chief executive of SBJ Global, as well as George Boden and Christopher Birrell, previously chief executive and finance director of SBJ Group Ltd.
Equity funding for the acquisition, which is subject to regulatory approval, will be provided by SBJ Global Risks management. The cost was not given.
SBJ Global Risks is a Lloyds and international insurance broker with offices in London, which became part of Axa following the acquisition of SBJ Group in March 2008.
Its London-based MediCare International division, which has the motto “we speak fluent healthcare”, was founded in 1982 and provides international medical insurance for expatriates living and working around the world.