Skipton agrees to sell PHP

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Skipton Building Society has agreed to sell its entire shareholding in The Private Health Partnership (PHP), its private medical insurance provider, to Punter Southall Health and Protection Holdings for an undisclosed sum.

PHP’s staff in Baildon, West Yorkshire, and its businesses in Chester and Farnham in Surrey will be retained “as new growth and development opportunites are pursued”.

Skipton Group chief executive David Cutter said: “We are pleased with the way we have been able to develop PHP since it has been part of the Skipton Group, in collaboration with its management team.”