Broker Worldwide Sports Insurance is looking to expand its lines of business following the acquisition of Lloyd's broker Lovat International.

Earlier this month, Worldwide Sports bought a 100% shareholding in Lovat, now renamed Kinetic Insurance Brokers, from Grupo Diagonal of Madrid for an undisclosed fee.

Graeme Jolly, chief executive of Worldwide Sports, told Insurance Times: "We are a growing sports broker and we bought Kinetic to give our brokers throughout the world access to Lloyd's.

The investment will provide the Norwich-based broker with a direct link to the Lloyd's market and enable Kinetic to operate its contingency, property and speciality book internationally.

Jolly said the company hoped current discussions could lead to new lines of business being introduced for specialist niche brokers both in the UK and oversees.

"[Worldwide Sports] is an Australian-owned company, which has three offices out there.

"We are looking to expand elsewhere in the world and there are deals happening as we speak with other brokers in various other countries."

Worldwide Sports specialises in amateur, semi-professional and professional sport and handles more than 100,000 clients globally.