Acquisitions and new business lines at heart of five-year £100m growth target
Roadsure is set to buy a series of brokers and move into new lines of business in a bid to establish itself as a major reginal niche broker.
The firm has appointed former Budget director Simon Jackson to drive forward the major expansion programme.
As managing director, Jackson will oversee the broker's move into new lines of business, including SME and commercial vehicle.
Roadsure currently places motorbikes and non-standard motor risks, such as classic cars.
Jackson told Insurance Times that Roadsure aimed to build a £100m business within five years, and achieve a premium income of £25m within three years.
He said: "We have a good cheque book for the right acquisitions. We are open-minded about who we would acquire, and could be tempted to take on a big broker worth up to £100m."
He added that the company would create new business hubs across England, with centres in the Midlands, the North West and the Home Counties, to sit alongside centres in Northampton and Swindon.
"We want to create six or twelve strategically based branches," he said.
Jackson said Roadsure had begun piloting SME packages and would expand its SME business in the third quarter of 2006. "If an acquisition comes our way in the SME arena we wouldn't turn it down," he said. "We are taking an opportunist approach."
He concluded: "I took quite a big risk moving from a big business like Budget to a small outfit like Roadsure.
"But we have some great opportunities ahead of us, and some good shareholders who are willing to back growth."