The Davis Group has recorded a 44% rise in its annual gross premium to £27.4m.

The broker revealed the results were £7m higher than expected after they exceeded their original target for 2002.

The group's performance was boosted with the introduction of its new financial services division: Davis Financial Planning.

Chief executive officer Leigh Smart said continued growth was expected following the formation of an on-line partnership with a major direct writer.

Smart added: "This has been another excellent year for the group and our recent recognition as an Investor in People is a reflection of everyone's hard work."

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