Oval has bought the majority of the corporate insurance business of Sheafmoor Brokers in Sheffield, with plans to expand this part of their operation.
The acquisition gives Oval a £10m GWP base. The group hopes to acquire more businesses in the region and grow turnover significantly in the near future.
It is the eleventh purchase for Wakefield-based Oval.
Oval's new Sheffield office will be led by John Proudfoot, a former director of Sheafmoor, which was set up in 1966.
