PMI consolidator Chase Templeton has completed its last major deal of 2015 through the asset purchase of Healthcare Partners, the Braintree intermediary which traded under the Avanti Healthcare brand.
PMI consolidator Chase Templeton has completed its last major deal of 2015 through the asset purchase of Healthcare Partners, the Braintree intermediary which traded under the Avanti Healthcare brand.
The acquisition brings a further £6.8m of annual premium income (API) and over 1,500 clients to Chase Templeton. Around 60% of that income is generated through SME policies.
Jeff Tate, mergers and acquisition director at Chase Templeton, said:. "These and other acquisitions, completed and to be concluded, place us firmly on the path towards becoming one of, if not the, key national player in the crucial SME space."
Following a series of acquisitions including Atlas Consulting Group and Consilium Employee Benefits, Chase Templeton has now added some £40m API to its books in the last three months and £55m in 2015 as a whole.
Avanti Healthcare was founded in 1996 by chief executive Glen Smith who is exiting the PMI sector in order to concentrate on his Avanti Travel Insurance business.
Tate confirmed that Avanti would be Chase Templeton's last major acquisition this calendar year but added that further significant deals are pipelined for the first quarter of 2016.
Avanti's SME clients will be serviced via Chase Templeton's Corporate Centre of Excellence at its headquarters in Darwen, Lancashire.
Nearly 1,000 private individual policies will be managed by a specialist team at the Individual Centre of Excellence in Bridgwater, Somerset.
Further reading
Chase Templeton buys Healthcare Solutions
Chase Templeton talks PMI growth
PMI needs IPT increase ‘like a hole on the head' - LaingBuisson
