A specialist insurance provider with its head office in Gloucestershire has been sold to an American company.

Kingsbridge Group, which caters for freelancers and skilled contractors, has offices in Tewkesbury, Liverpool, Leicester and London and employs more than 100 staff.

It is now owned by Pennsylvania-based NSM Insurance.

Since 2016 the business has been growing fast, doubling its client base and enjoying revenue growth averaging 24 per cent a year.

Oliver Bevan, a partner at Dunedin, which owned the county-based business, said: "During the last three years, Kingsbridge has successfully delivered on its goal to become a market leader in the provision of financial services to the contractor and freelancer community, and we are delighted to have been part of its rapid growth."

He added that Dunedin believed the new owners would support the continued growth of Kingsbridge.

James Twining, Kingsbridge Group chief executive officer, said "significant opportunities" lay ahead for the business.

"With the benefits of their investment and experience, we look forward to enhancing our offering to clients and accelerating the next stage of our journey both in the UK and internationally," said Mr Twining.