Property brokers Cadogan Insurance Services and Deacon Insurance Services have announced they will merge.
The merger, effective 1 July 2004, will create one of the UK's largest specialist property brokers with gross written premiums of over £30m.
Both businesses are owned by listed property insurance and services company Hercules Property Services.
The new business, called Cadogan Insurance Services, will bring together London-based Cadogan's focus on high-value, prestigious commercial and residential properties with Bournemouth-based Deacon's specialisation in delegated authority schemes, and in particular, flats insurance. The Deacon brand and offices in both London and Bournemouth will be retained.
Cadogan managing director Terry Hill will become chief executive of the merged company.