The Folgate Partnership has exceeded £500m of premium income with its latest acquisition.

The broker has acquired Kettering-based Adams Tingle (Insurances) Ltd, a mainly commercial broker with premium income of £15m.

Folgate chief executive Andy Homer said the acquisition takes the total premium controlled by Folgate to £505m.

Homer said Adams Tingle will become Folgate's second new hub in the central region, following the acquisition of FG Watts.

He said: "Adams Tingle and FG Watts are the 'class acts' of the East Midlands, and we are delighted that the Adams Tingle team are aboard."

The current management team of Tony Robbs, Peter Robinson and Michael Dunford will continue to lead the 51-strong staff.

Folgate executive chairman Peter Cullum said it was in "advanced stages of negotiation with other brokers".