Alexander & Alexander has announced the takeover of brokers Clinton, Curtis and Melling (CCM). A & A claims the combination of the two businesses will make the company one of the top five corporate insurance brokers in the Republic.

However, the company declined to disclose what it paid for CCM Brokers or the turnover and profits of the combined operation. The combined company will employ more than 50 people and will offer insurance broking, risk consulting, pension consultancy and personal financial planning services. All of the staff of CCM are to remain with the combined company, a spokesman for Alexander & Alexander (A & A) said last night. No decision had been made yet on who would be the managing director of the combined operation, he said.

A & A Ireland is part of the A & A Group which operates risk management, brokerage and human resource consultancy services in 80 countries. A & A Europe chief executive, Mr Richard Porter said the acquisition was important for his company. "The combined resources in people, processes and technology will precipitate a development phase of significant growth in our target markets", he said.