Britain’s two largest broker bodies, the Association of Insurance Intermediaries and Brokers (AIIB) and the British Insurance Brokers Association (BIBA) have voted to merge. The merger proposal was met with what observers described as an overwhelming vote in favour by Aiib members. They will become BIBA members on April 12.

Aiib Chairman Mike Slack said the merger proposal will be good for the British industry. “If we are to prosper in the future it is essential that the intermediary and broker sector is represented by a strong and professional body.”

Mr Slack will join the BIBA board and assume responsibility for small members.