Farm and estate insurance broker Lycetts has merged with bloodstock specialist broking group Hydra, which owns Hamilton & Partners.
The new holding company, Lycetts Holdings, will be jointly owned by Lycetts' existing shareholders and certain members of the senior management of Hamilton & Partners.
The merger will see the group control in excess of £100m of premiums from a network of 12 offices.
Hamilton & Partners will in future trade as Lycetts Hamilton.
Edward Nicholl, chairman and chief executive of Lycetts, said: "We believe that this combination is an excellent step forward for both businesses and will bring tangible benefits to all of our clients, most importantly in being able to harness the unique combination of specialist skills and experience that will exist in the enlarged group."
Hyrdra is the holding company of Hamilton & Partners, Hamilton & Partners (Ireland), as well as Highflyer Bloodstock Agency.
