Hill Dickinson has advised Manchester based Principal Insurance on its acquisition of a niche motor insurance broker based in Kendal, Cumbria.

Matt Noon from Hill Dickinson’s corporate team acted on behalf of Principal Insurance, which acquired the broking business from insurance and risk management company Marsh.

All six Marsh staff, including general manager Kat Blayden-Byrne, have transferred with the business which will continue to trade from the Cumbrian town.

The acquisition reunites the team with Principal Insurance chairman Damian Keeling, who owned and managed Peart Insurance Brokers as the business was originally known before selling to Central Insurance Services in 2008. Central was in turn acquired by Marsh in February 2014.

The move will see Principal purchasing a niche book of high-value, performance and specialist car policies as well the team.

The deal comes as Principal enjoys significant growth with turnover for the current financial year, which ends on 31 October 2015, set to double. Annual premium income, which in the last financial year grew to £3.3m, is forecast to rise to £7m.