Healthcare intermediary the Jelf Group is buying Cardiff-based specialist private medical insurance firm Pontin & Stein for an undisclosed sum.
Pontin & Stein's eight advisers will continue to operate from its Cardiff Business Park premises, with the operation being expanded to offer financial services and commercial and credit insurance.
The deal means that Jelf, which offers consultancy, healthcare and ins-urance services, now has annual business of more than £35m.
Earlier this year, Jelf merged with Richard Lev-inge Associates in Cheltenham and Kallender Walwyn in Trowbridge.
This deal brings the number of branch offices to five, with the head office in Bristol.
Jelf Group chief execu-tive Alex Alway says: “There is a great deal of synergy between our two organisations. The acquisition means that we can now significantly increase our mar-ket share in Wales and the South-west.”
Pontin & Stein managing director Wayne Pontin says: “After 20 years of independence, I am very excited about joining the Jelf Group.
“The combined strength of our portfolios will be advantageous for clients in terms of service and financial benefits.”