Partners at top-40 firms Clyde & Co and Barlow Lyde & Gilbert have voted to proceed with a merger.

The management of both firms have agreed the move, which will bring together the insurance specialists.

Clyde & Co posted a £212m turnover for the last financial year, while BLG recorded a 17% turnover rise in 2010/11 to around £95.5m.

Clyde & Co senior partner Michael Payton said: ‘We are absolutely delighted with the outcome of the votes. There is huge enthusiasm and we look forward to the finalisation of the agreement and proceeding towards integration.

‘We are all alive to the benefits that the combined firm will provide for our people and our clients, both in the insurance market and more broadly in the area of dispute resolution, both in the UK and across our international network.’

Barlow Lyde & Gilbert senior partner Simon Konsta said: ‘The result of the votes is an exciting and very positive step forward and reflects our belief in the potential of a combination between our two firms. We are pleased that the partners and our clients have responded positively so far.

‘We look forward to working with Clyde & Co to establish a final agreement that meets both firms' strategies.’

Clyde & Co currently boasts more than 1,300 staff in 24 offices worldwide, while BLG has around 300 employees - 100 of them partners - in England, Brazil, China and Singapore.

The firms put out a joint statement this afternoon confirming the vote, and saying there will be further statements as the final details of the merger are agreed.