Arthur J Gallagher UK is aiming for a three-fold increase in its profit margin in the next three years.
The broker - the UK operation belonging to the fourth largest broker in the US - reported pre-tax profits up by 51% in 2002 compared to the year before.
But managing director Brian King said his sights were set considerably higher. "We are looking to get our profit margin up significantly from the low of about 11% in 2002 nearer to 30% by 2006."
He expected brokerage to reach $70m (£44.5m) by the end of this year and to increase to at least $125m (£79.5m) by the end of 2006.
The main drivers for growth were recruitment of individuals and teams who can help steer the broker into new business areas.
Notable areas of expansion during 2002 included North American property binding authorities and alternative risk transfer business on the reinsurance side.
Results box
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