Woodstock Insurance Brokers has acquired Alder Broker Group's (ABG) general insurance book.

The deal will add £1.54m in premium income to Woodstock's accounts - increasing its total gross premiums to £5m from a total of 14,000 customers.

The Kent-based broker also sounded a warning over future broker consolidation in the run-up to statutory regulation in 2005.

Managing director Tony Simper warned that the number of selling brokers will outstrip those with, "serious purchasing capability in the market in 2004".

Simper said: "We expect this year will continue to be a good year for acquisitions and are seeking further books, but as regulation draws nearer the price must start falling."

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