Manchester-based broker Alec Finch Group has been bought by French broker Verlingue Courtier en Assurances for an undisclosed sum.
Alec Finch and Verlingue are members of the Worldwide Broker Network founded in 1989. Chairman Alec Finch said the two firms had "known each other for 15 years" and Jacques Verlingue, the firm's owner was a family friend.
"Many people had been asking what I would do as I'm close to retirement. I did not want to sell to a UK consolidator because it would break up the brand and not be good for employees," said Finch.
Verlingue is predominantly a commercial lines broker, and the turnover split is: Property Casualty 52% and Employee Benefits 48%.
The company is ranked 10th in the French broking market.
It has five offices: Quimper and Nantes in the West, Paris, Illzach and Strasbourg.
The new group has 600 employees and controls £400m of GWP.
