Allianz Cornhill has completed the purchase of Home and Legacy Insurance Group, the specialist mid- to high net worth household insurance intermediary.

Home and Legacy will operate as a separate business unit within the Allianz Cornhill group of companies. It will trade from its current business location, retaining its existing staff, management team and focus on providing home and contents insurance service to high value dwellings.

Gary Burke, currently managing director of Home and Legacy, will step down from his executive role but will continue his involvement as a non-executive director. Simon Lloyd, formerly operations director, has been appointed managing director.

Commenting on the acquisition, Nick Hall, the soon to be chairman of the newly-acquired subsidiary, said: This is an exciting opportunity for Allianz Cornhill. Home and Legacy is a very successful business and a significant player in a growing sector of the market where Allianz Cornhill is looking to develop. We intend to continue the company’s impressive growth record and explore new areas for investment and expansion.