Equity Insurance Group has bought Grantham broker, SMTK for an undisclosed sum.
The deal means the group now has around 70 UK branches.
Mike Hutton, managing director, said the company was "well on target for reaching an anticipated 100 branches by 2008."
Hutton confirms that since November 2005, Equity Group acquisitions have preserved almost 50 regional insurance jobs that might have been lost if brokers had gone out of business.
"Whenever a businesses is acquired we strive, wherever possible, to retain all relevant staff to ensure seamless transfers. All staff have been retained at practically every acquisition the group has completed since last November." he added.
SMTK was established in 2001 when two Grantham-based brokers - Spruth Meyer and Thomas & King merged. All three employees will transfer with the business.
"SMTK meets all the requirements Equity is looking for in a model acquisition," concluded Hutton, "It's a well-established high street-based broking business in a geographical area earmarked for further development opportunities."
