Layton Blackham Group has begun a search for new business partners to benefit from its rolling investment programme.

The leading UK broker has embarked on the second phase of its Quantum Leap programme. This aims to invest in commercial insurance brokers which it identifies as having strong growth prospects.

Chris Blackham, managing director of Layton Blackham, said it is almost unknown for new businesses to start up in the market while medium-sized brokers are being held up by an inability to attract investment.

Launched two years ago, the first phase Quantum Leap resulted in 11 acquisitions.