OAMPS UK, a subsidiary of local Wesfarmers-owned broker OAMPS, has acquired a team and book of life sciences business from UK firm Giles Insurance Brokers.

OAMPS UK MD David Barrett says the acquisition will complement the UK operation’s focus on niche schemes and sector specialisation.

Aside from its general broking operations, OAMPS UK has developed specialisations in petrochemical, marine, motorsport, fine art and specie, Buddhist charities, trade credit and surety and catering.

Under the terms of the deal, David Baker, the former head of Giles life sciences operation has joined OAMPS as an associate director, along with a small team of staff.

“This acquisition, which represents the fourth team that OAMPS has recruited in 2011, reinforces OAMPS’ commitment and strategy to grow its business through the recruitment and acquisition of specialist teams,” Mr Barrett said.

Wesfarmers Insurance MD Rob Scott recently told insuranceNEWS.com.au that the company’s broking division is continuing to look for bolt-on acquisitions in Australia, New Zealand and the UK.

The acquisition follows former Giles retail MD and board member Howard Pearson joining OAMPS UK as divisional broking director in May.

In April, Giles told the UK media it was planning to sell non-core assets, including its life sciences business, in order to reverse mounting losses.