The Folgate Partnership has announced the acquisition of Berkshire-based Pallett and Collins Insurance Brokers.

Under the deal Pallett and Collins will retain it's current staff under the leadership of managing director Tony Collins.

The broker places over £4m in gross written premium each year — mainly in commercial insurance.

Tony Collins said: "We have been looking for the right way to take the next step up in growing our business for several years. We are excited by the prospect of joining the Folgate Partnership, which will provide the financial support, products and facilities we need to take that step."

Folgate Partnership executive chairman Peter Cullum said: "Pallett and Collins will bring a loyal local customer base, and experienced, professional team to our broker network. The business will form a solid foundation for our presence in the Thames Valley, which we expect to grow rapidly both organically and by further acquisition."

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