Towergate Underwriting Group has acquired agricultural and rural underwriting agency AIUA.
Towergate said AIUA underwrites £28m in annual gross written premiums, and has strong relationships with Norwich Union and Royal & SunAlliance.
Towergate chief executive Tim Johnson said: “We look forward to further developing these relationships and see this book as being the base of all Towergate's agricultural business.
“There is also the opportunity to introduce AIUA to the personal lines products within the Towergate stable, and to expand our business in areas such as the high net worth sector.”
AIUA will continue to operate from its Harrogate offices, with chairman David Murray Wells and his senior management team seeking to make further acquisitions in the agricultural field, said Towergate.
The acquisition follows close on the heels of Towergate's purchase of Lloyd & Whyte's farm insurance book.
Towergate said the latest acquisition will boost its gross written premium to £250m.
