Lloyd's broker Lark Insurance Broking has bought Investec Insurance UK from Investec Group, the South African financial services company.
The acquired businesses include a general insurance broker, a life and pensions advisor and an offshore investment subsidiary.
Larks said the combined group would have annual revenues in excess of £9m and would employ 175 people in offices in London, Kent, Essex, Sheffield and Jersey.
Larks chairman Graham Lark said: "We are delighted to be able to add the experience and expertise of the Investec team to our group, and very much look forward to working with them.
"This purchase enhances our position as a leading independent UK broker and significantly increases our share of the high net worth private client and UK commercial segments of the market."
London-based Investec Insurance is a specialist insurance broker that provides insurance, risk management and independent financial advice on a wide range of products and services.
