Wales-based insurer Moorhouse is to realign itself as a distribution network with the aim of writing £37m in premium by the end of 2006.

The company announced a deal this week that will see its Xbroker products promoted to brokers via HSBC. Moorhouse's Xbroker range includes commercial vehicle, let property, and tradesman liability cover.

The deal will add a further 2,400 brokers to Moorhouse's 1,700 Xbroker agent base.

"It means that there will now be eight or nine business development managers visiting our brokers across the country every day," said Moorhouse chairman Lyndon Wood.

Moorhouse also unveiled ambitious plans to write £11m new business by the end of the year. "We are on target to achieve our ambitions, having written £1m of new business per month this year," said Wood.

He added: "We are becoming a distribution channel more than anything else. Most of our growth is organic and that is how I see it continuing. We have only done one acquisition, which was Shakespeare earlier this year."