Argent Insurance Group is seeking to blaze an acquisition trail in the Lincolnshire and Humberside areas, following its purchase of Apex Lincolnshire for an undisclosed sum.

The Apex acquisition is the first step in the broker's strategy to develop a significant high street presence since it became part of Cox Insurance Retail Division earlier this year.

Argent's managing director, Paul Dodds, said: "We are keen to talk to brokers who were looking to exit the market, either fully or partially.

"In the event that they had an existing high street presence, we would be in a position to take a flexible approach to such an acquisition, with the resources and ability to work fast to achieve this."

Apex Lincolnshire, established in the late 1970s, has offices in Grimsby and Scunthorpe which specialise in motor and home insurance.

The Grimsby office also has a growing book of commercial business.

The business will continue to trade as Apex and its eight staff will all remain with the company, as will its former managing director Mel Codd.