Somerset broker Higos has acquired Homesure Direct in a bid to increase its broker business.
Homesure Direct, a Bristol based broker, generates £2.1m gross written premium annually. Its 14 staff are all set to remain with the company.
However, the purchase could see some of Higos's staff relocating to Bristol.
Higos acquired Berkshire-based motor broker Sharp Insurance last month, which will add £750,000 to the broker's motor premiums. A further acquisition is due to be announced in March.
Following the opening of a Glastonbury-based office the broker plans to open 10 high street offices across the South West by 2008.
Higos has also signed a five-year partnership with Allianz Cornhill Commercial.
The insurer will provide commercial package solutions for the broker's SME book. The account is expected to generate £5m GWP in the first year.
