Taxi broker J&M Insurance is set to make a string of acquisitions in a bid to double its size over the next three years.

The broker this week acquired High Wycombe taxi broker, Sunrise.

The deal will see J&M expand its share of the public and private hire vehicle market to 9%.

"Our aim now is to grow [our share in the taxi market] to between 15% and 20% within three years," said Paul Dodds, chief operating officer of J&M Insurance.

A further two acquisitions would be completed by the end of March with up to 10 deals planned by 2010, Dodd said.

"We are targeting £20m growth through acquisitions and £10m growth over the internet," he added.

The broker currently writes £25m GWP, which it aims to increase to £50m GWP by 2010, and to £70m by 2012.

Dodds said the broker would look to expand in the taxi market and in the small ticket SME business sector.

"We see this as an ambitious plan, but we believe there will be a lot of brokers coming onto the market in the next two to three years who will specialise in these areas," he said.

The broker will launch a 'quote and buy' system in the spring, aimed at the public and private hire vehicle market.