Shareholders in Fishers International have approved the acquisition of two British insurance services companies for up to £3 million sterling.

The two companies being acquired are Miller Knight, a firm of loss adjusters and Robert Bishop (Southern), an insurance claims management business. The purchase should initially boost Fishers' profits by 56 per cent, and double employment to 500 people.

Fishers is paying £1.3 million cash for Miller Knight and £200,000 for Robert Bishop (Southern). A further £250,000 will be paid in respect of accumulated losses brought forward in the books of Miller Knight and an additional £1.5 million will be paid if certain turnover figures are achieved.