Mondial Assistance has achieved a net revenue in excess of £15m from a standing start 12 months ago.

The company promised to shake up the travel insurance market during 2000 and has landed significant contracts from BT, Go and Asda.

Travel director Dennis Peckham said: "The travel industry and the travel insurance industry continue to be very volatile.

"However, this in no way detracts from the fact that there is an increasing demand for travel insurers with a global capacity and international network."

Mondial is the sister company of Elvia Travel Insurance.