Open International, the holding company of Open GI, is set to launch into the Lloyd's and London market following its first acquisition.

The acquisition of Mi Ltd was valued at £12.5m.

Mi provides technology solutions to the global insurance and Lloyd's markets with clients including Aon, Willis and Marsh.

Simon Hughes, sales and marketing director, Open GI, said: "Our perception is that the Lloyd's and London market is increasingly looking to the regional broker for potential growth in distribution.

"Mi's solution allows the two communities to communicate effectively with each other, providing a mutually beneficial trading platform."

Although the company maintained that its number one priority remained organic growth, it had not ruled out future acquisitions.

It said further acquisitions could also come from inside the London market.

The acquisition, added Hughes, reinforced Open GI's commitment to the broker market, and would put its non-subscription market services on a par with Lloyd's

"Overall the acquisition provides a great opportunity to improve the efficiency of trading between the Lloyd's and London market that has been Mi's primary customer base and the regional broking community that has been Open GI's," he said.