Cardiff-based Composite Legal Expenses has posted pre-tax profits of £2.1m in 2002, up from £463,758 in 2001.
The company claims that the improved performance reflects strong growth in all areas of its operations.
Composite's managing director John Mullin said: "It's all down to having a great team, a real focus on the customer and building close relationships with our business partners - insurers, brokers, banks and solicitors. Combine this with a really low cost base and we have the recipe for success.
"The proof of the pudding has been our winning two awards over the past 12 months - one for our applied use of technology and the other for our call centre service - each time beating well known national brands. 2003 has all the earmarks of this trend continuing."
