US insurer HCC Insurance Holdings has reached an agreement to acquire Lloyd's broker Dickson Manchester (DM).
DM is a market leader in the underwriting and placement of UK professional indemnity insurance, and has annual gross written premium of approximately £40m.
The deal is expected to be concluded by the end of the first quarter of this year, and the broker's current management, led by Charles Manchester and Mike Dickson, will continue to oversee operations following the acquisition.
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