The directors of Warwick-based Quantum Underwriting Solutions have acquired the business from chairman and founder Stefan Wissenbach for an undisclosed sum.

It has been acquired by co-founder James Wasdell and fellow director Lee Rhodes.

Mr Wissenbach said: "I am delighted to have sold the business to James and Lee who have been running the company successfully for some time. This is a market leading business, and will remain in very safe hands."

Quantum provides risk management advice for high net worth individuals with substantial personal assets including houses, jewellery, fine art and cars throughout the UK and Europe.

It was launched six years ago.

Mr Wissenbach runs the Wissenbach Group, a wealth management and investment specialist business with offices in Berkswell, Warwickshire and Berkeley Square in London's Mayfair.

He said: "I will be focussing my attention on developing other companies within our group, providing a holistic approach to financial planning for our clients."