Argent Insurance has acquired Lincolnshire-based brokerage, Apex, for an undisclosed sum.

Argent, a subsidiary of Cox, will retain Apex's two offices in Grimsby and Scunthorpe along with the company's founder and managing director, Mel Codd.

Apex has an annual premium turnover of £1.5m with around 4,500 policyholders. Within the personal lines arena, which represents 85% of its book, Apex sells motor and home insurance. Its commercial book consists of liability insurance and risks relating to the nearby docks.