Clyde & Co is merging with Simpson & Marwick, Scotland's sixth largest firm and the largest insurance firm in the UK.

The firms confirmed that they were in talks earlier this year, and an announcement of a full merger is expected later today. S&M's eight UK offices will be rolled into Clydes' 38-strong global network, and they'll adopt their larger partner's name. In the insurance world, this is a marriage of two very big beasts.

    Two big beasts yesterday

Insurance rivals Kennedys will be seething at Clydes having managed to pull this off: S&M walked away from a merger with Kennedys in December 2013.

a Read all about it on Friday.