Broker alliance Brokerbility expects to achieve its aim of £100m gross written premiums six months ahead of schedule.

The alliance, which offers an equity shareholding to its members, was launched in January.

It announced this week that Lincolnshire-based brokers, The Thompson & Richardson Group, has joined the alliance.

The latest member gives Brokerbility a GWP of £63m and takes the group to one of the largest broking firms in the Midlands.

Brokerbility director Stuart Randall told Insurance Times it would be announcing two acquisitions in the next month.

He said: "We have another two acquisitions in the pipeline, and another broker about to join up. It now seems the £100m target by the end of 2006 was a very conservative estimate."

He added the group was targeting brokers of a "reasonable size" with between £10m and £30m annual GWP.

There were no plans to extend the group's geographical base in the long term, but the group did plan to merge the brokers into a single group.

"The plan is to take shares in our brokers, then to grow that shareholding and merge at a later point," Randall said.

It is a strategy being employed to see through the merger of Nottingham-based Hawthorne Parkes, which will be completed next month.