Broker RP Hodson is in talks with venture capitalists and investors to raise cash for acquisitions.

According to sources, RP Hodson corporate clients director Phillip Hodson is close to securing a deal "worth tens of millions of pounds" so the group can "go it alone" and begin acquiring.

It is understood that the broker, which brokes both commercial and personal lines insurance, was approached to join a network, but has decided to remain independent.

A deal should be announced within the next two weeks, according to sources.