Private Health Partnership (PHP) has acquired MLP Insurance Services (MLP) for an undisclosed sum.
PHP said the acquisition brought its combined annual premium income to near £30m, with over 7,000 clients in the UK. The private medical insurance intermediary is part of the Skipton Building Society group.
MLP will retain its brand identity following the acquisition. PHP said MLP has added 14 new schemes during the past three years. It provides travel, medical and dental insurance, and cash plans.
Following the takeover, MLP's founding shareholders, husband and wife team Ian and Jayne Middleton, will withdraw ‘from operational activities'. Ian will become a non-executive director of PHP.
PHP managing director Jan Lawson said the acquisition was unlikely to be the last for the company.
