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4 acquisitions in 3 years

The Private Health Partnership Ltd (PHP), part of Skipton Building Society group, has acquired the medical insurance portfolio of JSP Medical Insurance Services (JSP) for an undisclosed sum - PHP's fourth acquisition in three years.

Established 10 years ago, JSP focuses on SME and individual medical insurance business and has good existing relationships with over 50 introducers, predominantly IFAs not specialists in medical insurance.

JSP was founded by John Stevens and Jim Niven, currently Managing Director. Mr Stevens will retire following the acquisition and Mr Niven will continue to work closely with PHP sourcing additional potential introducers.

Jan Lawson, PHP's Managing Director commented, "This is a good quality portfolio which can easily be absorbed into our existing advisory and customer services team. Relationships with the introducers will be supported and further developed by our UK Account Executive, Mike Bassett who is dedicated to managing such inter-relationships."

PHP's acquisition trail started in September 2003 with Valerie Levene's business, which had in excess of 350 company healthcare schemes in addition to individual schemes. In July 2004, it acquired MLP Insurance Services Ltd (MLP) which had very strong links within the trade association movement, managing nearly 50 different schemes including Association of British Travel Agents, Retail Motor Industries Federation, British Printing Industries Federation and National Association of Estate Agents. And in January 2005 it acquired the medical insurance portfolio of Yorkshire based For-PMI-UK Ltd.

Jan Lawson continued, "We now have a proven track record acquiring medical insurance portfolios and in addition to having the necessary resources available we also have the infrastructure in place to accommodate a smooth transition with zero or minimal inconvenience to customers.

"We are currently looking at further acquisitions but continue to be interested in talking to other businesses with medical insurance portfolios who may be considering a sale. This could especially apply to intermediaries who are wishing to retire and are looking for an exit which ensures their customers are well looked after, or intermediaries who are just finding the regulatory climate far too onerous to continue handling medical insurance business."

PHP is one of the largest independent UK private medical insurance (PMI) intermediaries with over 7,000 clients and premium income in excess of £30 million. It became part of Skipton Building Society Group in November 2002.

ENDS

The Private Health Partnership Ltd is authorised and regulated by the Financial Services Authority.