Santé Group acquires Sante Partners

Santé Group, the Preston-based health insurance and protection business, has acquired a significant stake in Dorchester-based Sante Partners for an undisclosed sum.

Sante Partners was established in March 2020 to provide growth-hungry appointed representatives (ARs) with the tools needed to build successful brokerages.

An AR is a firm or person who runs FCA regulated activities by acting as an agent for a financial services business directly authorised by the Financial Conduct Authority (FCA).

Since its launch in 2020, Sante Partners now manages a premium book of £5.9m and now is on target to double this figure to £12m by the end of 2022. The Santé Group premium book will reach £35m at the same time.

Adam Sherring, founder and managing director of Sante Partners, 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 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. Our unique 'brokerage in a box' takes care of everything from access to new products, compliance to business and marketing support while also offering a mentoring service.

"It can be incredibly daunting for brokers to launch their business, but by becoming part of Santé Partners, they could be running a very successful and profitable brokerage within 12 months."

Sante Partners will now form part of 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.

Paul Nugent, Santé Group's chief executive, said: "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."

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