Aston Lark has today announced its acquisition of the specialist employee benefits intermediary, Private Healthcare Managers (PHM). PHM, which places approx. £4 million of GWP per annum across its portfolio, provides advice and customised solutions to SME and corporate clients. These solutions include private medical insurance (PMI) and group risk benefit packages.
Discussing the acquisition, Peter Blanc, group CEO at Aston Lark noted that employee benefits and PMI, in particular, is a key growth area for Aston Lark and that he is pleased to welcome the team to the group’s growing employee benefits practice. He said: “I look forward to seeing them help both existing and new customers with their group risk and private medical insurance needs.”
PHM Director, Nick Petty also commented on the acquisition saying that the business has grown rapidly in the last few years and has fielded numerous acquisition inquiries by corporate brokers looking to strengthen their employee benefits proposition. Having met with Blanc and his team in London, Petty said, it was clear from that meeting and industry conversation that Aston Lark is 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 said. “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.”
Meanwhile, Aston Lark’s employee benefits director, Sam Mistry, said: “We are delighted to welcome the team at PHM to the Aston Lark employee benefits business. Their reputation, experience and drive will be a welcome addition to a team set for growth.”