Erinaceous Insurance Services has become one of the UK's largest property brokers after acquiring Lumley Holdings.
The deal, worth £12m, will see the property insurance division of Erinaceous Group take control of the Lumley group of companies, which has an annual gross written premium of £16m.
This includes Lumley Letsure, a major provider of specialist insurance products such as tenants' contents insurance and landlords' buildings.
The acquisition will make Erinaceous Insurance Services one of the largest independent property insurance brokers with gross written premiums of approximately £250m.
Andy Halstead, managing director of Erinaceous Insurance Services, said: "Erinaceous Insurance Services' growth aspirations are greatly enhanced by the acquisition of Lumley Holdings
"The synergies between Letsure and our residential lettings services division, HomeLet make it a perfect fit with our strategic objectives to accelerate growth in the core residential lettings services market," Halstead said.
