Aston Lark, the chartered insurance broker backed by Goldman Sachs, has agreed to acquire intermediaries Right to Health and The Health Insurance Specialists find undisclosed sums.
Founded by Gary Marney and Stephen Carroll in 2001, Right to Health has grown to become one of the UK’s largest independent individual health insurance specialists.
The Health Insurance Specialists, founded by Robin Dowling, Gary Marney and Stephen Carroll, serve the needs of both businesses and individuals.
The deals, which are expected to complete in early March, will follow Aston Lark’s acquisition of Private Healthcare Managers in August 2020 and the hire of former CEO of specialist private medical insurance broker Chase Templeton, Warren Dickson, as UK retail managing director in September 2020.
Aston Lark CEO Peter Blanc said PMI has “never been more in demand” and Right to Health and The Health Insurance Specialists are at the “very pinnacle of high quality advice and service”
Blanc, who said the acquisitions “fit perfectly with Aston Lark’s ethos of care” for its clients said he is “delighted to welcome both teams to the Aston Lark family”.
The two healthcare businesses bring over 30,000 new policyholders into the Aston Lark Group and over £50m of annual premium income, making Aston Lark one of the largest PMI brokers in the country.
Blanc said Aston Lark plans to acquire more businesses in the healthcare space over the coming years.
He said: “I would love to hear from other PMI advisors considering their next steps.”
In a joint statement, Marney and Carroll said: “Over the last 11 years we have seen significant growth, with this year being no exception. The world of private healthcare is more exciting than ever and we are all very much looking forward to the future with Aston Lark.
“This development is great news for our clients. It strengthens our proposition and breadth of cover in the market and opens up access to a range of other insurance products. The Aston Lark group shares our ethos of care and excellence in customer service, which we think makes it a great new home for our team.”