Collins Stewart is set to receive £2m (€2.8m) for its work advising Brit Insurance on its offer for rival PRI Group, even though it stopped working on the deal before the offer was made.

Matthew Scales, finance director of Brit, confirmed that Collins Stewart could receive up to £2m for its work on the £156m deal, even though the adviser was forced to stand down before the transaction was announced due to conflicts of interest. Collins Stewart would have been able to collect £3m from Brit had it continued in its role.