Cooper Gay Group has acquired the reinsurance and terrorism broking teams of CRS Group.

The teams transferred to Cooper Gay’s Lloyd’s broker, Cooper Gay & Co, on 1 September.

It is the first major acquisition made by the group since SC Insurance and Risk Services, a subsidiary of Portuguese corporation Sonae, acquired a 14% stake in the company in May.

Cooper Gay indicated at the time that it would use the capital to expand its UK operations.

Toby Esser, chief executive of Cooper Gay, said of the CRS deal: “This transaction carries forward our acquisition strategy and will further strengthen our reinsurance and terrorism insurance broking capabilities.”

A spokesman added that Cooper Gay was in “active acquisition mode”.

There were no hints as to the strategy of the company in the coming months.

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