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Chase Templeton acquires Preferred Medical

02 July 2007 Breaking News

Preferred Medical, the private medical insurance (PMI) specialist based in Bridgwater in Somerset, has been acquired by Chase Templeton Group for an undisclosed sum.

Following the deal, Preferred Medical managing director Phil Taylor will join the board of Chase Templeton Ltd and establish an Appointed Representative Company focusing on internet-based PMI sales.

Taylor, who is also chairman of the Association of Medical Insurance Intermediaries, said that he had built “a large PMI client base” at Preferred Medical but the organisation had “never really been successful in developing that base into other product areas”.

Kevin Amphlett, chairman of Chase Templeton Group, said that Preferred Medical’s focus on technology, as well as owning the rights to “industry-recognised systems” such as the Prognosis quote engine was also a “significant driver” in making the purchase.

He said: “Phil Taylor and his team have forged an enviable reputation with clients and providers alike, winning many industry awards over the past few years. It is our intention to build on the strong foundations they have laid down.”

Chase Templeton, which was established in 2002, now has a PMI portfolio worth in excess of £30m following the acquisition of Preferred Medical – its largest acquisition to date. Previous acquisitions include the purchase of Redferns Insurance Services, PHA Ltd and Health Matters Ltd.

Chase Templeton also operates Network Protect, a support network for directly authorised PMI specialists as well as a product white labelling arm called 1u ltd.