Double deal fuels Chase Templeton’s growth
CHASE Templeton, the fast-growing private medical insurance company, has a made two acquisitions within a matter of days.
The latest deals will add more than 1,000 clients and around £7.8m in annual premium income (api) to the Lancashire firm, which is backed by Palatine Private Equity.
Individually Chase Templeton has bought London-based Get Private and Brighton intermediary Medical Insurance Advisers Limited (MIA), which bring £6.3m and £1.5m in premium income respectively.
Get Private was founded in 2001 by managing director Marc Benjamin, who following the sale will pursue other business interests, including acting as an appointed representative for Chase Templeton focusing on new business growth.
Having completed 26 deals last year the company has previously signalled that it would pursue “fewer but bigger transactions” this year as its buy-and-build strategy matures.
The MIA deal brings more than over 700 clients. Co-founded by chief executive officer Stephen Walker, the business has been trading for 20 years and, whilst having built a small SME book, predominantly served individuals.
Having sold MIA Walker, who was chair of trade body the Association of Medical Insurers & Intermediaries (AMII) between 2004-07, is now retiring from the industry along with fellow director Hazel Gregory.
“It was time to hand over the reins, realise the value of a business I and my colleagues have built over two decades and enjoy retirement,” he said.
MIA’s individual clients will now be served from Chase Templeton’s individuals centre of excellence at its offices in Bridgwater, Somerset, with the corporate book being integrated into the sister SME centre in Darwen.
Chase Templeton has become the PMI sector’s leading consolidator with a client base of over 35,000 businesses and individuals generating well over £110m API. It employs 77 staff in Darwen and in Somerset.
