AXA in June 2018 announced it had sold its UK whole-of-market intermediary, The Health Insurance Group (THIG), to U.S. private equity firms Highbridge Principal Strategies and Madison Dearborn Partners.

Acquired by AXA in 2008, The Health Insurance Group provides individual and corporate health and well-being products.

Highbridge Principal Strategies and Madison Dearborn Partners already own several UK broking brands, including The Ardonagh Group.

A “whole of market intermediary” is “a firm that gives either advice or information on a range of products representative of the entire market”; in other words, THIG sold not only AXA PPP products but also the offerings of its competitors.