The deal, which includes HRIB's specialist division, C&A Mackie Insurance Brokers, contributes an additional £15m in GWP to Greenwood Moreland's portfolio. 

HRIB, with offices in Glasgow and London, brings a team of 25 employees to the group, increasing Greenwood Moreland's total GWP to over £40m and expanding its workforce to more than 100 across seven locations.  

The existing management team at HRIB, led by owner Graeme Robertson, alongside senior leaders Graeme Brown and Jack Dalton, will continue to guide the company's growth. 

Greenwood Moreland MD Andy Weir said: “This acquisition will add to our established presence in Scotland as well as bringing a platform for dynamic growth across the UK. Along with their many loyal and long-standing client relationships, Graeme and his team possess a wealth of knowledge and experience combined with an impressive track record of growth – all of which will strengthen the proposition across our business in the years ahead."

Robertson added: “This is great news for our business, clients and staff. It secures an amazing future by plugging into the resources and investment secured through Greenwood Moreland and JMG Group.” 

The acquisition is JMG's second purchase in the same week.  

Earlier, JMG announced the acquisition of Surrey-based SIA Insurance, a broker that employs a team of ten providing a range of insurance services. 

JMG's acquisition also included SIA's subsidiary, Evergreen Insurance Services, which donates a portion of its commission to charities focused on wildlife and environmental conservation. 

Last month, JMG acquired BQI Insurance and its sister company BQI Protection.