Newmarket-based commercial brokers Roberts & Davis has changed its name to The Davis Group after becoming a public limited company.

The company has grown to 40 staff and an annual turnover of £20m in just 3 years.

The Davis Group chairman, Leigh Smart, said the company planned to continue its expansion and forecasted that it would have a turnover of £50m by the year 2005.

At the same time, The Davis Group has consolidated its two wholesale divisions, Davis Specialist Risks and Davis Schemes, into its main Newmarket branch.

According to insurance expert Tony Cornell, The Davis Group, is one of the top ten independent insurance brokers in the UK.