The £2m GWP business, run by Adrian and Helen Paintin, employs eight staff and serves a predominantly SME market but also has a personal lines book. All personnel will remain with the business which will continue to operate under its own brand and operate out of its existing premises.

CCV also stated it expected to make further acquisitions before the end of 2011.

Graham Barr, chief operating officer at CCV, commented: "The addition of LFE to our team sees us gain a foothold in Leicester for the first time.
It is a strong business in its own right and will also be a great springboard from which we hope to secure broker acquisitions in the East Midlands area in the future."

Ms Paintin added: "Adrian and I wanted to ensure a good succession plan for the business, but we were looking for a way in which we could achieve that while still doing what's best for our clients and our staff.

CCV's flexible way of structuring deals appealed to us and we knew that LFE would be able to thrive under its stewardship, so we are delighted with the agreement we've reached, which we think works very well for all concerned."