Part of a strategy to increase its presence in the healthcare market, the acquisition of PHSA will enhance economies of scale within Engage Mutual’s existing health cash plan business, and add 13,000 new healthcare customers.
Both organisations share ethical values and a commitment to customer service. PHSA was the first insurance company in the UK to receive the Ethics Mark in recognition of its fair business conduct.
Engage Mutual’s chief executive, Andrew Haigh, commented:
“We welcome PHSA customers and staff to an established and growing organisation which has a dedicated customer centric approach they will no doubt be familiar with, and we look forward to continuing with the same high standards. ”
“The acquisition of PHSA is another milestone in our progress as a customer owned business to increase our presence in the healthcare market, which is part of a long term strategy to offer a comprehensive range of simple, relevant products to assist families with their financial planning.”
Engage Mutual currently provides life insurance, savings and investments, and health cash plans. Health cash plans provide cash back on everyday health expenses, such as dental, optical and therapy costs, helping families meet the costs of everyday healthcare.
The acquisition of PHSA follows Engage Mutual’s announcement in August that it was entering into a transfer of part of the long term insurance business of Ecclesiastical Life Limited, as part of a strategy to continue to grow and strengthen its business. The proposed transfer to Engage Mutual is due to complete later in the year.
Customer numbers at the Mutual have increased for each of the past 12 consecutive years and following the acquisition of PHSA now number 457,000.
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For further information please contact:
Kathryn McLaughlin
Engage Mutual
Tel: 01423 855245
Kathryn.mclaughlin@engagemutual.com
NOTES TO EDITORS
1. Engage Mutual Assurance is a trading name of Homeowners Friendly Society Ltd (HFSL), Registered and incorporated under the Friendly Societies Act 1992, Registered number 964F and its wholly owned subsidiaries, Engage Mutual Funds Limited (EMFL), registered number 3224780, Engage Mutual Services Limited (EMSL), registered number 3088162, Engage Mutual Administration Limted (EMAL), registered number 4301736 and Engage Health Holdings Limited (EHHL), registered numbers 7112411, all of Hornbeam Park Avenue, Harrogate HG2 8XE and Engage Mutual Insurance Limited (EMIL), registered in Gibraltar number 100605 of Montagu Pavilion, 8-10 Queensway, Gibraltar. EMA is also a trading name of Engage Mutual Health (EMH), registered number 515058 of 14 St Cuthberts Street, Bedford, Bedfordshire MK40 3JU, a wholly owned subsidiary company of EHH.
2. HFSL, EMFL and EMH are authorised and regulated by the Financial Services Authority (FSA). HFSL’s Register number is 110072, EMFL’s FSA Register number is 181487 and EMH’s FSA Register number is 202311. EMIL is authorise to conduct general insurance business by the Gibraltar Financial Services Commission (GFSC) and is regulated by the FSA for the conduct of UK business. EMIL’s FSA Register number is 485680. You can check this on the FSA’s Register by visiting the FSA’s website www.fsa.gov.uk/register/firmSearch Form.do, or by contacting the FSA on 0845 6061234. Engage Mutual investment Funcs ICVC is an investment company with variable capital, Registered in England Number IC00044. EMSL is an appointed representative of EMIL. EMAL, EMSL and EHHL are non-regulated wholly owned subsidiaries of HFSL.
3. Engage Mutual is one of the larger UK mutuals providing simple, value for money savings, protection and investment products. It currently helps over 457,000 customers of all ages to protect, preserve or enhance their welfare, with some of the most straightforward products on the market. Engage Mutual prides itself on being a family-oriented, modern mutual, providing products that help enable households of all kinds to plan their finances to help meet their future needs. More information on Engage Mutual is available at www.engagemutual.com
4. Engage Mutual supports mutuality through links with the Association of Financial Mutuals and Mutuo.
5. Engage Mutual Funds Limited (EMFL) is a provider of the Child Trust Fund direct and in partnership with organisations including Yorkshire Building Society.
6. Engage Mutual has been the title sponsor of the Rugby Super League since 2005 and has extended its agreement to 2010.
7. Engage Mutual announced its entry into the health cash plan market in July 2008 following an agreement of partnership with Wakefield & District Hospital’s Contributory Scheme (WDHCS). Further to this, 30,000 health cash plan customers transferred from Premier Health Benefits (part of WDHCS) to Engage Mutual Insurance Limited.
