Broker Network has acquired Knighthood Corporate Assurance Services from Sunderland Marine, part of the North Group.
The acquisition brings Broker Network's total number of regional powerhouse acquisitions to five.
Knighthood, which was founded in West Sussex in 1969, has been offering solutions to a range of businesses.
The company controls gross written premiums of over £15m and employs more than 30 people.
Commercial lines brokerage Knighthood will continue to operate from its existing location with the same management team.
Broker Network’s chief commercial officer Des O’Connor said: “I’m delighted to welcome Lena and her team to the family. Knighthood is an excellent business with strong opportunities for future growth.
“We believe their specialist offering, extensive client base and strong management team will bring a new dimension to Broker Network Partners.
The company stated that it has further acquisitions planned for this year and it is interested in speaking with brokers who share the same culture and vision.
Knighthood Corporate Assurance Services managing director Lena Weaire said: “We are thrilled to become part of the group and excited about the broad horizon which will open up for our employees and customers.
“The prospect of strengthening our already market-leading offering is an exciting one, and making the journey from Member to Partner means that we can benefit from the Network’s collective strength in a new way that will truly galvanise our business.”
In January, Broker Network completed the acquisition of East Anglia-based Saffron Insurance. Financial terms of the acquisition were not disclosed.
Saffron Insurance, operating through 12 offices and with a workforce of 120, controls more than £30m in gross written premiums.
The deal will see Saffron Insurance managing director Dave Beswick and his team stay on at the brokerage and continue their acquisition programme.
Broker Network is a trading style of The Broker Network Limited and Countrywide Insurance Management Limited.
Image: Broker Network completes fifth acquisition. Photo: Courtesy of The Broker Network Limited.