Scottish broker Giles has continued its march south with the acquisition of Birmingham-based insurance and financial services businesses in a deal worth £750,000.

The businesses, Hamroy Insurance Developments and Hamroy Financial Services, are based in Halesowen and will be bolted on to Giles' existing Birmingham operation.

The two companies have a combined turnover of £900,000 and employ ten staff, all of whom will be retained.

Chief executive Chris Giles claimed the deal would establish Giles as a Top 10 broker in the Midlands.

"There is a good fit between the two businesses and Hamroy has some excellent people who will complement our existing Birming-ham office," he said.

"The deal will build our presence and establish us as a £3m a year commission and fee brokerage in the city."

The deal boosts Giles' insurance broking premium income to more than £75m and its financial services income to £1.5m.