Axa enters the health insurance market with €650m Laya Healthcare purchase

The major deal sees the French insurer join Ireland's healthcare market

Headquartered in Little Island, Laya Healthcare grew out of a management buyout of Quinn Insurance in the early 2010s, with US Insurance giant, AIG acquiring the company for an estimated sum of €80m in 2015.

Insurance giant Axa has acquired Ireland's second largest healthcare insurer, Laya from its rival AIG in a deal worth €650m.

With a 28% share of the Irish health insurance market, Laya Healthcare serves around 690,000 members, generating premiums of €800m annually.