Henderson Insurance Brokers (HIBL) has bought Sunderland-based Branch Insurance Brokers as it plots further expansion in the North East.

HIBL has two other purchases in the pipeline as well as investment in existing business.

Chief executive Joe Henderson said: “HIBL’s prime growth is organic and this approach continues very successfully.”

The Henderson Insurance Broking Group’s (HIG) budgeted revenue for the current year is £35m.

It aims to reach gross revenue of £50m before 2020.