Leicester-based broker alliance, Brokerbility, is set to achieve £200m in gross written premiums by the end of 2006.
This comes as Brokerbility announced its expansion into the North East with the addition of Darlington-based BiB to the group. This follows last week's announcement that Kent-based Clear Insurance Management is also set to join the alliance.
Brokerbility is now represented by more than 20 offices throughout the UK and employs more than 450 people. It currently operates with a GWP of £171m.
Brokerbility is set to expand into five regions by the first quarter of 2007. It is understood that the group aims to write £100m GWP in each of its five areas and aims to write between £500m and £600m GWP by 2008.
Stuart Randall, managing director of the group, said further brokers were expected to sign up before Christmas. He told Insurance Times: "We are very careful about who we talk to. The integrity of who we talk to is very important. We want to add to the group strategically and expand into new geographical areas."
Brokerbility will offer members an equity shareholding in the business in exchange for it taking a shareholding in the broker group. It plans to gradually increase its shareholding in each of its member companies as it grows.