Towergate Health & Protection has expanded its employee benefits business with the acquisition of Benefiz.
Benefiz will now conduct business under Towergate Health & Protection, while the deal will allow Towergate will be able to expand its capabilities by including support for pension benefits in its current portfolio.
Benefiz supports employers of all sizes, particularly smaller organisations, in accessing benefits typically offered by larger companies. It provides an online platform for designing and managing various employee benefits.
It describes itself as an “outsourced” benefits adviser who specialises in broking, benefits administration, and communication. It also provides advisory services to larger companies so they may improve their in-house teams.
Towergate Health & Protection CEO Iain Laws says: “Benefiz is a strategic addition to our business which will contribute to our ongoing growth through the addition of benefits technology platforms and pension administration capabilities. This will help us meet growing demand from larger businesses for a holistic approach to employee benefits and marks our evolution into a comprehensive employee benefits adviser. We look forward to working with Tim and his team in this exciting next chapter in our ongoing development.”
Benefiz founder and CEO Tim Gillingham says: “Joining Towergate Health & Protection and the broader Ardonagh Group will help support our continued growth by allowing us to cover more services to existing Towergate clients meeting the growing demand from clients for a single advisory firm managing all their benefits.
“In looking for the right owner for Benefiz, opportunities for our Team, and the commitment to support our continued growth were paramount. In Towergate Health & Protection we’ve found both. We’re thrilled to be joining forces.”
