EDINBURGH'S largest independent insurance broker has completed its fourth acquisition in five years.
Bruce Stevenson has taken another Edinburgh company, Coates Insurance Brokers.
The value of the deal was undisclosed.
No redundancies were made as Coates staff followed director Gordon Banks to the new company, which now has 42 staff.
Fellow director Tom Cavanagh retired.
Coates was turning over about £1.5m in premiums. It was founded in 1956.
Bruce Stevenson is aiming for a premium turnover of between £9m and £10m this year.
Banks said issues such as compliance with regulations and the need to buy expensive information technology had made life difficult for small brokers.
He said: "Becoming part of Bruce Stevenson was the sensible option for the company."
Bruce Stevenson's group marketing and development director Alan Russell predicted more consolidation in the broking market.
He added: "We intend to be consolidators rather than become consolidated."
