Proposed transfer of CS Healthcare’s members and business to Bupa
Bupa and CS Healthcare have announced a proposed transfer of CS Healthcare’s members and business to Bupa. The transfer is subject to the approval of CS Healthcare’s members, regulatory approval and competition clearance.
CS Healthcare is a Friendly Society with approximately 18,500 members and was originally established in 1929 to provide health insurance cover for members of the UK Civil Service. Bupa is the UK’s leading health insurer, established in 1947, and its purpose is to help people live longer, healthier happier lives.
The proposed transfer offers a number of benefits to CS Healthcare’s members. Bupa is well known for the standards of care it provides and has a strong commitment to maintain the highest level of customer service in the industry. Bupa’s strong financial position and presence in the health insurance market offers confidence in its sustainability and the ability to deliver affordable premiums over the long-term to all of its customers, including CS Healthcare’s members once they transfer.
Please click here to read the press release.
Timetable of events
9 September 2020 CS Healthcare’s members voted overwhelmingly in favour of the proposed transfer at its Annual General Meeting.
1 January 2021 Expected date for the proposed transfer.
This page will be updated with any changes.
Answers to questions
I have a Bupa insurance policy – how will this proposed transfer affect me?
There’s no change for you as a result of the proposed transfer – your policy and cover will remain the same, along with the high standards of service and care Bupa provides.
The proposed transfer will grow the number of Bupa customers in service of our purpose to help people live longer, healthier, happier lives. It will not negatively impact Bupa’s financial strength in any way.
How do I make representations to the Prudential Regulation Authority (PRA)?
The PRA will only approve the proposed transfer if its satisfied that it’s in the interests of CS Healthcare's members, having considered any concerns and comments from them, Bupa's customers, or anyone else.
You can send your comments or concerns to the PRA or ask to present them yourself at a PRA hearing. You’ll need to explain clearly why you’re interested in the proposed transfer and the reason for your comments. You can send your comments in writing and/or let the PRA know that you wish to present them yourself at a PRA hearing to the Prudential Regulation Authority, PRA Governance Function, 20 Moorgate, London, EC2R 6DA or, preferably, by email to PRASecretariat-Representations@bankofengland.co.uk by 26 October 2020. If the PRA decides to hear oral representations, these will be on 12 November 2020 at a time and place to be confirmed by the PRA. There will be a facility for oral representations to be made remotely.
How will I know if the proposed transfer will go ahead?
CS Healthcare members voted in favour of the proposed transfer at its AGM on 9 September 2020. This website will be updated if and when the PRA confirms approval of the transfer which is expected to complete on 1 January 2021.
Where can I get more information about the proposed transfer?
More information about the proposed transfer is available on CS Healthcare’s website here
CS Healthcare’s Chief Actuary has prepared a report for CS Healthcare’s Board to help them decide whether the proposed transfer would be in the interests of CS Healthcare’s members. As such, it doesn’t look at the proposed transfer from Bupa policyholders’ perspectives.
If you’d like more information, a copy of CS Healthcare’s actuarial report, have questions or would like to talk to us, please email^ us at ask@bupa.com call us on 0800 917 6150* or write to us at Bupa Place, 102 The Quays, Salford M50 3SP and we’ll be happy to help.
* We may record or monitor our calls
^ Information you send us by email may not be secure until it reaches us
