Chase Templeton has acquired PMI specialists Perfect Health as part of its drive to consolidate the PMI intermediary sector.
The move was "particularly attractive" to PMI broker Chase Templeton because of the £8m it added to its portfolio and existing business relationships with Perfect Health.
Kevin Amphlett, chief executive of Chase Templeton, said: "I have had a strong business relationship personally with Perfect Health chief executive Andrew Tripp spanning more years than I care to remember.
"Despite the gloomy economic climate, we need to remain capable of bucking the trend by relying on our strategy of continued growth as the best defence against recessionary pressures."
The purchase will take Chase Templeton's book to in excess of £90m of premium income and it aims to break the £100m barrier by the year end with further developments.
Tripp, previous chairman of the Associaton of Medical Insurance Intermediairies, said: " I have had some serious health issues over the last twelve months, which thankfully I am beginning to gain recovery from.
"The sale allows me to concentrate going forward on my new project with the health cash plan product, while at the same time protecting our ccustomers and consultants with the continuity of working under the Chase Templeton brand. "
Perfect Health will be launching a new take on its cash plan offering in September.
Sales consultants from Perfect Health will follow managing director, Peter Lowenberg, into new roles in Chase Templeton.
