Aston Lark, the chartered insurance broker backed by Goldman Sachs, has announced the acquisition of Private Healthcare Managers Limited (PHM) for an undisclosed sum.
PHM is a specialist Employee Benefits intermediary providing advice and tailored solutions to SME and corporate clients for their Private Medical Insurance and Group Risk benefit packages, placing around £4m GWP per annum across its portfolio.
Peter Blanc, Aston Lark Group CEO, said: “Employee Benefits, and Private Medical Insurance in particular, is a key growth area for Aston Lark. As such I was delighted to meet with Nick and Chris who clearly share the Aston Lark passion for customer service.
“I’m pleased to welcome them to our growing Employee Benefits practice, and I look forward to seeing them help both existing and new customers with their Group Risk and Private Medical Insurance needs.”
Nick Petty, PHM director, said: “Our business has grown rapidly in the last few years and, with much acquisition and consolidation in our sector, we have been approached on numerous occasions by larger corporate brokers looking to strengthen their employee benefit proposition.
“When Aston Lark showed an interest we met with Peter Blanc and his team in London and it is clear both from that initial meeting and from anyone you talk to in the industry that they are growing a great business. Their continued focus on personal service coupled with exceptional talent in all areas of the business and the solid financial backing of Goldman Sachs is a winning formula.”
He added: “We are very excited to join them and their already impressive Employee Benefits division, confident that we have made the right strategic decision for the future of our business and our longstanding and loyal customers.”