Wolverhampton-based broker, KGJ Insurance Services has acquired Annan Insurance Services Ltd.

The acquisition of Annan, also based in Wolverhampton, takes KGJ's total premium income to around £25m.

KGJ director Richard Cox said that no redundancies would result from the acquisition, and Annan would continue to trade under its own name.

The acquisition of Annan, which specialises in commercial lines, boosts KGJ's commercial business. Previously a personal lines broker, KGJ diversified into commercial lines five years ago.

A source close to KGJ said it had another "significant" acquisition on the horizon.