Carrick Neil & Co is third buy in past month.
Giles has acquired Edinburgh-based Carrick Neill & Co. It is the broker's third acquisition in the past month.
Carrick Neill was founded in 1994, and specialises in professional indemnity and insurance for golfers.
Co-owner David Carrick said: “We have built up an enviable reputation thanks to our ability to provide a bespoke insurance service to the golfing industry.
"Coupled with our healthy client portfolio and our commitment to providing cost-effective insurance solutions, we have maintained our leading position in Scotland for a number of years.”
In a statement Giles added that Carrick Neil was the only broker to be endorsed by the English, Scottish and Ladies’ Golf Unions.
His partner David Neill added: “We have built up an enviable reputation looking after our commercial clients, and an acknowledged leader in the PI market.
"We are sure that with Giles’ input we will be able to strengthen each area of our business even further and offer our clients a far wider range of services and products to suit their needs.”
Gordon Crosbie, Giles' regional managing director, concluded: “Carrick Neill is an extremely well run organisation which has worked hard since it was established to become one of the most reputable firms north of the border.
“This is an extremely important acquisition for us and will add great strength to our already impressive portfolio.”
Giles now employs over 850 people in offices across the UK.
Private equity giant Charterhouse and banker RBS granted the broker an acquisition fund of £197m, plus £300m in debt, in March this year.