Oamps UK managing director David Barrett this afternoon confirmed the broker's aquisition of the life sciences book from Giles.
Insurance Times revealed the deal had taken place earlier today.
Barrett said: “We are delighted to welcome this team of quality brokers who have a strong market presence, excellent client relationships and are culturally aligned to our core values.
"This acquisition, which represents the fourth team that Oamps has recruited in 2011, reinforces Oamps's commitment and strategy to grow its business through the recruitment and acquisition of specialist teams.
"This business compliments our niche schemes and other industry sector expertise. This strategic acquisition demonstrates the commitment of Wesfarmers Insurance to support the growth of its UK insurance related activities.”
The business will be run from the new Oamps London office in Fenchurch Street.
The Oamps business generates revenues of £17m and employs more than 160 staff. It is part of Wesfarmers Insurance, which has operations in Australia, New Zealand and the UK.
No comments yet