Towers Perrin has acquired Denis M Clayton (Claytons).

Claytons is a Lloyd's broker that started business in 1972. It was ranked 31st largets in Insurance Times top 50 brokers survey.

The acquisition will result in Claytons merging with Towers Perrin Reinsurance (TP Re), creating a global reinsurance intermediary with more than $120m revenue.

Towers Perrin chairman Mark Mactas said: "TP Re has enjoyed a long-standing relationship with Claytons and now we can join together as one business.

"Claytons is the right strategic fit for us and we share a similar culture and industry perspective."

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