Benenden is an award winning mutual friendly society based in York, providing its members with an alternative to private medical insurance, centred on offering discretionary low cost healthcare and wellbeing services. Established over 100 years ago the society has a membership of 900,000 and revenues in excess of £90m. The acquisition of Keegan & Pennykid, a composite commercial broker with specific expertise in building affinity schemes in the charitable and voluntary sectors, is in line with Benenden’s growth strategy in the general insurance market and complements its existing core healthcare offering. BDO, who sourced and initiated this off-market transaction, provided a fully integrated service offering including lead advisory, financial due diligence and regulatory and compliance services.
“BDO’s sector knowledge, experience and Corporate Finance expertise was evident throughout this transaction and we were impressed with their dedication, client service and creativity. Their advice and sector focus was invaluable in securing a successful outcome.”
Marc Bell – Chief Executive Officer, Benenden Healthcare Society