Scottish broker Central Insurance has acquired rival Aberdeen firm Collins Halden & Burnett for £2.6m.
The deal, financed by cash and shares, has increased Central’s premium income to £51m.
Collins Halden & Burnett's 23 staff will now transfer to Central’s head office, also in Aberdeen.
It brings the total number of staff employed by Central in the UK to 113.
Central said the acquisition will strengthen its claims capability.
Central managing director Iain Henry said: “Collins Halden & Burnett is an established and well respected name in Aberdeen.
"The business, built up over 50 years, is a great match for Central as we continue to expand our presence in the corporate and personal insurance markets in Scotland.
"This synergy also benefits from quality broking professionals joining forces and sharing experience in key industry sectors, such as farming, construction, and energy.”
Graeme Yule, formerly managing director of Collins Halden & Burnett, said: “We are delighted to become part of such a respected, dynamic company and we are ready to play a leading role in the future of Central as it becomes an increasingly important independent player in the UK."
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