Oxygen Holdings, the parent company of the Lloyd's broker Oxygen Insurance, has completed the acquisition of Smart & Cook Consulting (SCC).

SCC's services include risk management advice to corporate clients in the UK. The acquisition will include transfer of all staff and client portfolios to Oxygen. The business will become part of Oxygen's broking operation and be branded Oxygen UK Corporate Risks, a division of Oxygen Insurance Brokers. Seán Hicks will join Oxygen as head of Oxygen UK Corporate Risks.

Commenting on the acquisition Nigel Barton, chief executive officer of Oxygen Holdings, said: “Full transparency and high quality of service are becoming essential characteristics for all insurance businesses, especially given the FSA's recent admission that the prospect of mandatory commission disclosure is becoming ever more likely. As a result we see our two businesses as a perfect fit.”