Preston-based health insurance and protection business Santé Group has acquired a “significant” stake in Dorchester-based Sante Partners for an undisclosed sum.
Sante Partners will now join The Santé Group, which includes employee health insurance and wellbeing company Nugent Santé, life insurance business Santé Life, and PMI and protection intermediary services business ArchAngel Broker.
Sante Partners was established in March 2020 by founder Adam Sherring (pictured) who has more than 25 years of experience building insurance brokerages.
Sherring launched the business in a bid to challenge existing insurance networks while providing appointed representatives (ARs) with the tools needed to build successful firms.
Since its 2020 launch, Sante Partners has grown to manage a premium book of £5.9m and is on target to double this figure to £12m by the end of 2022, with the Santé Group premium book also expected to hit £35m at the same time.
Commenting on the deal, Sherring, said: “Becoming part of the wider Santé Group will help us accelerate our growth plans. We’ll help a new breed of private medical insurance (PMI) brokers develop their business by providing services that take the pain out of running a business and frees them up to focus on doing what they do best.
“As the world continues to change and employee benefits evolve to match market demands, we believe we have a strong proposition by utilising Santé Group’s technology and product portfolio.”
Paul Nugent, chief executive at Santé Group, added: “The growth of Sante Partners has been hugely encouraging, bearing in mind the challenges that Covid presented, but welcoming the business into the wider Santé Group will accelerate its growth.
“It’s a perfect fit for us and offers our brands new routes to market by developing new distribution channels while giving private medical insurance professionals the chance to build a successful brokerage.”