Central Insurance Services of Aberdeen in takeover deal
One of Scotland's biggest insurance brokers has been taken over by Marsh, part of a US insurance giant.
Central Insurance Services, based in Aberdeen, is to be a focus on growth by Marsh in the offshore energy sector and shale development.
The firm has offices in Aberdeen, Edinburgh, Glasgow and Kendal in Cumbria, with 130 employees.
Terms of the transaction are not being disclosed. It is due for completion by the end of March.
The business said it would "cement Marsh's already strong leadership position in Scotland".
Iain Henry, managing director of Central Insurance - which was set up in 1973 - will become head of Marsh's operations in Scotland.Risk advice
Central already has expertise in insurance broking and risk advice to the oil and gas sector, as well as financial services, construction, agriculture and private clients.
Mr Henry said: "Clients will benefit from the enhanced range of services and our colleagues will enjoy expanded career opportunities".
Peter Zaffino, president and chief executive of Marsh, said the transaction "is a demonstration of Marsh's commitment to expanding our capabilities in Scotland".
Based in New York, Marsh operates in 100 countries, with 27,000 on the payroll.
It is a subsidiary of the Marsh & McLennan Companies group, with a total of double that size of staff, and turnover of $12bn (£7.3bn).
Other subsidiaries include Mercer human resources, Guy Carpenter re-insurance intermediary and Oliver Wyman management consultancy.