Premium income boosted by £4m
The Private Health Partnership (PHP) has acquired the medical insurance portfolio of Home Counties Healthcare (HCH) for an undisclosed sum.
This is PHP’s seventh acquisition since becoming part of Skipton Building Society group in November 2002. The HCH portfolio contains a large number of corporate clients and group leavers with premium income circa £4.4 million, taking PHP’s total annual premium income to £37 million.
HCH was established in 1992 by Gary Smylie and Antony Allsop who will now concentrate on their other business, Insurance Resource, a web-based quotation and product comparison site for the PMI market available to advisers. However, Smylie will work with PHP for a short while to ensure a smooth transition for the clients.
Jan Lawson, PHP’s managing director said, “This has been an attractive acquisition for us as we are able to absorb the portfolio into our existing infrastructure. PHP is continuing to recruit selectively in all areas of our business so that future similar opportunities can be effectively integrated whilst maintaining a high level of personal service to clients.”
Since December 2006, PHP has acquired the medical insurance portfolio of JSP Medical Insurance Services, care advisory service company RED ARC Assured, and Select Healthcare. It also moved into new headquarters in Baildon, West Yorkshire in April this year and now services around 8,350 corporate and company clients, trade associations and individuals nationwide.