Lovells has acted for health insurance group PruHealth on a deal that will see Boots offer co-branded private medical insurance products in its stores and on its website.
The deal represents PruHealth’s largest-ever co-branding agreement and is also its first retail partnership.
Lovells, which has an existing relationship with PruHealth parent company Prudential, advised on the distribution arrangement and the IP issues. Boots relied solely on general counsel David Foster for legal advice.
Lead partner on the Lovells team was Rachel Kent. “It was pretty much a straightforward co-branding deal for Pru-Health,” she said. “However, the size of the deal is significant. Boots is a very well-known, large retailer so this is very interesting for PruHealth.
“Prudential doesn’t have a formal panel of firms, but we’ve worked closely with the company in the past and we’re a key provider of legal services to PruHealth.”
The medical insurance is gradually being rolled out to stores across the UK and is branded ‘Boots Health Insurance’. PruHealth is acting as the insurer and the products will incorporate its Vitality rewards programme. Under the scheme, customers can earn points by eating healthily or visiting the gym.