Specialist motor insurer and underwriting agency Tradex is launching a series of products in a bid to increase the size of its motor business from £65m to £100m.

Acquisitions in the south of England have not been ruled out.

The company has recently unveiled its Home Fleet product, aimed at individuals and families who own a range of vehicles. The product is expected to bring around £10m gross written premiums (GWP) in the first year.

Roy Clegg, founder and chief executive of Tradex, said: "£10m is a modest amount but it will enable us to understand the risk. We have launched the product to the public but are aiming for a big push in the spring. [Our] growth plans, to reach £100m in motor in the next couple of years, is a sensible figure for a company like ours."

He said Tradex had written a couple of million pounds worth of policies for Home Fleet to date.