Corporate services firm Jelf Group PLC said it has acquired Cherwell Insurance Management.
Based in Long Hanborough, near Oxford, Cherwell is a General Insurance Broker with a premium income of over £4.5m.
Jelf said the exact size and structure of the deal is subject to confidentiality clauses but is in line with the market norms.
It added that it will pay an initial payment then performance-related payments, partly in shares.
