Vega is "days away" from receiving FSA approval for its purchase of broker FM Green, its largest acquisition to date.
Once the deal goes through, existing FM Green chief executive Ian Richens will take on the role of insurer relations manager at Vega. "I can't go into details or confirm this deal, but if it happens, I will also be staying on as chairman of FM Green," said Richens.
FM Green, based in Witney, Oxfordshire, has 41 staff and GWP of around £25m. The buy will boost Vega's GWP to around £65m.
Vega managing director Bob Screen said he could not comment on the deal other than that it was no secret that talks were taking place. He added that should it go ahead, the FM Green brand would remain.
