Groupama has bought Clinicare, the UK healthcare subsidiary of Groupe Azur GMF, for an undisclosed sum.
Pierre Lefèvre, chairman and chief executive at Groupama, said: "This is an important acquisition that more than doubles our private medical insurance revenues in the UK."
"It supplements our existing UK portfolio and we see a significant opportunity for profitable growth."
He added: "It offers the opportunity to create a substantial healthcare business that can truly offer a genuine alternative for intermediaries and customers in a market that is currently dominated by a handful of major players."
Groupama said that over the forthcoming weeks the details of the new operating structure will be confirmed and further information will be released when appropriate.
The deal is subject to formal approval by the FSA.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
