Punter Southall Health & Protection has bought Enrich Reward for an undisclosed sum in a deal that makes it one of the largest, independent health and protection intermediaries in the UK.
The deal means Punter Southall Health & Protection Consulting now advises more than 670 corporate clients, representing more than £100 million of insurance premiums.
The combined management teams will develop an integration plan that will include timescales for integrating Enrich’s pensions business with Punter Southall Defined Contribution Consulting.
PSHPC sales and marketing directorJohn Dean, who was also formerly Enrich’s managing director, says: “One of the key factors for us in this acquisition has been the strong strategic fit between the two businesses.
“The new, combined business now has the scale, technology and influence to further deliver leading customer service and consulting value across the UK. PSHPC recently launched Gladis, a unique online self-service platform for managing protection insurances, which has been extremely well received by the industry, while Enrich has developed a range of online member communication solutions. Combining the businesses will provide a wider range of leading-edge services for our clients.”
Enrich chief executive Gordon Wright says: “We are delighted to be joining forces with PSHPC and appreciate this investment in Enrich, which will allow further client service developments and provide a wider range of pensions, investment and wealth management services to the Enrich client base.”