The Broker Network is set to explore growth in the private medical market following its acquisition of Towry Law Insurance Brokers (TLIB) last June.

Chief executive Grant Ellis said the acquisition had made the company a top ten medical insurance broker and future acquisitions in the sector were possible.

"We are very interested in acquiring a healthcare broker and there are a few potential acquisitions out there," said Ellis. "It is a small community, but it is a market which needs shaking up."

The Network will also invest in recruiting new members, with plans in place to establish a 250 strong network across the country by 2010.

"The emphasis this year is on recruiting new members and growing the network," Ellis said.

The Broker Network this week reported an increase in half-year turnover from £3.69m in 2005 to £4.56m in 2006.

It follows a strong performance by Broker Network Holdings in the six months to 31 October 2006.

Profit before tax rose 71% to £1.94m from £1.13m a year earlier.

Operating profit grew by 108% to £2.04m from £0.98m in the previous year. The retail arm reported a 166% increase in turnover to £6m.