Jelf Group, the major South West-based broker, said it jumped into the UK's top ten independent healthcare intermediaries with the purchase of Cardiff-based medical specialist Pontin & Stein.
Jelf said in a statement that the acquisition took its portfolio of private medical insurance business to a value of £35m.
Pontin & Stein will continue to work from its existing offices in Cardiff Business Park, but will grow to offer other Jelf services such as commercial insurance broking, credit insurance and financial services.
Jelf Group chief executive Alex Alway said: "The acquisition gives us the opportunity to significantly increase our presence and market share within Wales and the South West while at the same time continuing to build our portfolio of national and international clients.
"There is a great deal of synergy between our two organisations. We share the same high professional standards and enjoy industry-leading reputations."
The deal follows Jelf's acquisitions earlier this year of Richard Levinge Associates of Cheltenham and Kallender Walwyn in Trowbridge, bringing the total number of Jelf offices to five.
