Acquisition expands firm's offer

Island corporate insurance broker MAC Group has bought a 50% stake in UK specialist healthcare broker Nugent Sante Ltd.

The Preston-based firm launched in January 2016, has a staff of 10 and manages around £5 million of annual insurance premium for private and corporate clients.

MAC Group Chief Executive Jon McGowan said the partnership offers opportunities for expansion in the UK and access to healthcare schemes not available elsewhere.

He added: "Nugent Sante is a dynamic young company that specialises in dealing with small to medium enterprises and brings a new sense of purpose and energy to the health protection sector."

He added: "Its services and facilities will be at the full disposal of our Isle of Man corporate clients and we look forward to building on our relationship over the coming months."