Another 'major purchase' imminent too
Chase Templeton has acquired the individual client banks of two members of its network of appointed representatives (ARs) as consolidation continues in the private medical insurance (PMI) industry.
This month sees the acquisition of the individual book of Best Health’s business and follows a similar deal undertaken with The Healthcare Specialists, which completed earlier this year.
Both ARs will now concentrate fully on growing their group PMI books, Chase Templeton said today. A spokesman stressed that it has acquired only the individual books of the two ARs and not the businesses themselves.
Mark Newman will continue to lead Kent-based The Healthcare Specialists, while Debbie Kleiner-Gaines will continue to lead Bristol-based Best Health.
The acquisitions add a further £1.76m of API and 1,500 clients to Chase Templeton, which has been at the forefront of intermediary consolidation over recent years. Chase Templeton has made a number of acquisitions in the PMI intermediary sector since it was founded in 2002, including Farnborough-based Benefits for Business, Cheshire’s Jigsaw Healthcare and Oxford and Gloucester-based Healthcare Quotations Ltd.
Chase Templeton CEO Kevin Amphlett said today that the acquisition of the individual books of The Healthcare Specialists and Best Health underlines the organisation’s “ambitious growth plans” in the PMI sector.
Amphlett said he would welcome enquiries from any PMI brokers, IFAs or general insurance specialists considering releasing cash by selling their PMI client banks, or from specialist PMI firms considering selling their business in its entirety.
He added that he expects to announce another “major purchase" in the coming weeks.