Newly formed broker-only insurance group Markerstudy has set its sights on writing £60m to £75m of premium in 2002.

Chief executive Kevin Spencer said: "We're aiming for that, but we're more interested in the bottom line - we want a 10% to 15% return on premium."

Spencer was speaking in Knebworth, at the first of a series of eight Markerstudy road shows around the UK to promote the Markerstudy Group to brokers. It is already involved with about 2,700 brokers.

The group, which was formed in May 2000, is made up of seven separate companies. It aims to use that mix of services to provide a complete set of insurance solutions through the broker channel.

Spencer described Markerstudy, which is domiciled in Gibraltar for tax and operating reasons, as providing an unofficial broker "network" environment.

He said its relationship with the major insurers meant it could provide bulk buying advantages, but without the usual constraints of a network.