In a significant development in the Irish insurance sector, AXA Insurance has announced plans to acquire Laya Healthcare, the country’s second-largest health insurer for €650 million.

Laya Healthcare, with its extensive reach and strong market presence, boasts a membership of 690,000 individuals and an estimated 28 percent of the Irish health insurance market.

AXA Insurance is also a well-established player in the Irish insurance market, primarily known as the country’s main car insurance provider. With this acquisition, AXA is set to diversify its portfolio and expand its influence within the healthcare insurance sphere.

This acquisition is expected to have far-reaching implications for both Laya Healthcare and AXA Insurance. For Laya Healthcare, it presents an opportunity to leverage AXA’s resources and expertise to enhance its healthcare offerings and further strengthen its market position. On the other hand, AXA Insurance is poised to expand its market footprint by entering the health insurance sector, diversifying its product offerings, and ultimately providing a more comprehensive suite of insurance options to its customers.

As the transaction awaits regulatory approval, consumers in Ireland are closely watching for the potential synergies the acquisition may bring.

Laya is one of three health insurance providers in Ireland and like its peers has raised the price of its health insurance premiums in 2023. If you have a Laya Healthcare policy coming up for renewal shortly, why not get in touch with our health insurance specialists to see what other plans are available on the market? You could save money and even find a better plan more suited to your needs. Get in touch with a member of our team to find out more today.