Deal for The Health Insurance Group (THIG) takes premium income over £500m
Venture Preference (VP) has launched into the private medical insurance market after buying The Health Insurance Group (THIG).
The deal sees the groups gross premium income exceed £500m as it continues its aim of controlling £1bn of gross written premium by 2010.
THIG, which was purchased for an undisclosed sum, is an independent UK private medical intermediary and a significant player in the health insurance market - generating £45m of gross premium income.
It is also the trading name of Independent Sales Force Solutions Limited (ISFS) and employs over 40 staff across its offices in Southampton and Sheffield. THIG will retain its full independence and will continue to trade in the normal way under its current brand name following the deal.
VP joint chief executive Chris Blackham said: “The acquisition of The Health Insurance Group is excellent news for VP. By purchasing a significant health insurance intermediary we are taking an important strategic step in our distribution strategy.
Richard Brewster, managing director of The Health Insurance Group, said: “By selling to a buyer who appreciates our independence and brand values I know that the business, our appointed representatives, employees and clients are in good hands. We look forward to working with VP to continue to develop our business in this important insurance sector.”
