Controversial insurance agency Dead Happy enters administration

It’s the end of the road for Leicester-based life insurance agency Dead Happy.

The company has issued as statement on its website announcing that it has now officially entered administration.

The statement reads: “Adam Stephens and Kevin Ley of Evelyn Partners LLP were appointed as joint administrators (the “administrators”) of Dead Happy on June 24, 2024.

“Please note that Adam Stephens and Kevin Ley are licensed as insolvency practitioners by the Institute of Chartered Accountants in England and Wales and as such we are bound by the Insolvency Code of Ethics when carrying out all professional work relating to insolvency appointments.

“This website will be used to provide customers and creditors with information and will be updated when new information becomes available.

“Following the appointment of the administrators:

• Customer policies all remain valid.
• Customers should continue to make payments as they have done previously.
• Contact with the company should continue through the same channels.

“The company remains regulated by the Financial Conduct Authority (“FCA”) and the administrators will continue to liaise closely with the FCA as the administration process progresses.”

Dead Happy controversy

After being founded in 2013, the firm was rarely out of the spotlight thanks to a host of controversial marketing campaigns. It claimed to offer “life insurance without the bullsh*t” and was slammed when it used an image of serial killer Harold Shipman as part of its campaigns. The tagline was “Life Insurance. Because you never know who your doctor might be.”

Though the company claimed the goal was to make people “stop and think” with the campaign, it was ultimately branded as “beyond despicable”.

The company nevertheless enjoyed a level of success. At one point it claimed revenue of £2.5 million and in excess of 25,000 active policies. According to a Businessdesk.com report, in July 2022 it employed around 32 people.

“We are pleased to be able to assist with ensuring a continuity of insurance provision for all customers as the business is wound down,” the same report quoted Evelyn Partners Adam Stephens as stating. “Evelyn Partners has been working with the Dead Happy management team and major stakeholders to enable a smooth transition for customers.

“We thank Dead Happy management for their support in this process and look forward to concluding the process with a positive outcome.”

Any thoughts on the tenure of Dead Happy? Leave a comment below with your thoughts.