Car insurance group Admiral has negotiated an £80 million refinancing deal.
The financing package will allow Admiral to expand in areas such as on-line insurance.
Admiral's CEO Henry Engelhardt said: "The insurance industry is going through a particularly difficult stretch, however we are going from strength to strength.
"The group now consists of six brands, we employ over 1,450 people and turnover this year will be near £370 million."
The package is jointly underwritten by Bank of Scotland Corporate Banking and Lloyds TSB Corporate Acquisition.
Ian Aston, director of Bank of Scotland Structured Finance, said: "Admiral is a real success story. In less than ten years it has grown from a zero base to a four per cent market share. Admiral came to us to seek a refinance to give it the flexibility to continue its exceptional growth."
While Julie Gooderham, director of Lloyds TSB Acquisition Finance, added: "Admiral is a highly successful business and is rightly regarded as a benchmark among insurance providers."
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