Broker expands in South East region.

Lycetts has extended its reach in London and the South East following the acquisition of Carroll Foley Lloyd (CFL) for an undisclosed sum.

Established in 1992, CFL specialises in high and mid net worth household insurance in London and the South East.

Angus Keate, chief executive of Lycetts, said the acquisition would help the countrywide broker “balance out” what is predominantly a rural book of business.

The broker is “always on the look-out for niche businesses”, he added.

He said: “I am extremely pleased to welcome Jonathan Lloyd and his team into the Lycetts Group. This acquisition strengthens our presence in London and the South East, an area which represents the most intense concentration of high net worth property in the country.”

The company will trade as Lycetts, with all employees relocating to Lycetts’ City of London office and joining the existing private client team.