Two of Scotland's largest independent brokers are to merge, placing the new company in the regional top ten.

Edinburgh-based Carrick Neill and Coggans Wood will complete their FSA approved merger on 1 October, forming a top-ten Scottish broker with a turnover in excess of £2.3m.

The business will trade under the Carrick Neill Coggans Wood brand, with the Carrick Neill name being used on a standalone basis to service its golf insurance book.

The business will operate from Coggans Wood's existing Edinburgh offices.

The new company said no redundancies would be made as a result of the deal.

It added that Coggans Wood directors David Sutherland and Alan Nisbet will join the company board.

Carrick Neill director David Neill said: "Our staff and clients will gain from the increased presence of the new company in the Edinburgh market, boosting our ability to offer a first class and personalised service."