Bank of Scotland's (BOS) commercial insurance division has sold its book of farm insurance business to Carlisle-based Borderway Insurance Brokers.
Head of commercial insurance at BOS, Peter Thompson, said the deal, for an undisclosed sum, came into effect on 1 July.
As part of the deal, BOS will provide Borderway with leads from the bank's agricultural managers for new farm insurance business in Scotland.
Thompson said the decision to sell the business was taken due to the high level of on-the-ground support required to service the
portfolio.
Borderway managing director Philip Pagin said that it intended to offer all clients a full insurance appraisal within the next 12 weeks.
