The Beckett Group has continued its recent expansion by acquiring Thetford-based broker, Hose Somers.
The acquisition, its sixth in three-and-a-half years means The Beckett Group now employs over 200 people across four locations.
Chairman Robert Beckett said: "For any broker, client service is the touchstone of success but this is under threat for small brokers with the imposition of the new regulatory structure for the insurance industry through the Financial Services Authority next year.
"By joining with The Beckett Group, Hose Somers will be able to offload the burden of administration and regulatory control to concentrate on servicing their clients."
Beckett suggested that many brokers may be looking for an exit from the market in the near future.
He said: "Some 50% of principals are within 10 years of retirement and the impact of the new regulatory regime under the Financial Services Authority will place even greater pressure on these smaller firms - both in terms of costs and administration."
