Sale of Premium Medical Protection

27 Dec 2017

Premium Medical Protection is the UK’s leading independent provider of medical indemnity insurance. In its most recent financial year end prior to the sale, it wrote approximately £17m GWP on behalf of more than 1,700 surgeons, doctors and other medical practitioners. It has a distinctive business model, and is the only UK company to offer clients the choice of occurrence and claims made policies, all of which are underwritten by MedPro, the specialist healthcare malpractice insurance division of Berkshire Hathaway.

Key features of the transaction:

  • Highly specialist, niche business with no direct UK competitors;
  • Quasi-MGA, generating attractive portfolio underwriting profits;
  • Very focused marketing strategy to a small number of potential purchasers; and
  • Transaction concluded with the incumbent insurer at an attractive valuation of >1x GWP.

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