INSURANCE giant Swinton, the UK's largest high street broker has bought Isle of Wight based Vectis Insurance Services.

The move follows a recent announcement by Swinton chief executive Patrick Smith that the company intended to expand into the commercial market during 2007, ramping up Swinton's SME business.

Hazel Walker, head of acquisitions at Swinton, said: "We have been looking for the right moment to enter the high street commercial broking market for some time, and in Vectis we have found the ideal opportunity. It meets our commercial criteria, has a sizeable personal lines account, experienced staff, a strong presence and an excellent reputation."

Vectis was established in 1962 and has steadily grown both organically and through acquisition.

Trading from two offices Cowes and Newport, Vectis has premium income in excess of £5m.

Swinton, which has made over 250 broker acquisitions during the past five years, will continue to trade under the Vectis name from both locations.