Essex-based commercial broker FMW Risk Services announced an increase of 31% in its gross written premium for the year ending 31 December 2003, when compared with the previous year.
It said its unaudited year-end figures showed gross written premiums of just over £24m, with the company forecasting pretax profits of over £900,000. It said it achieved brokerage and fees of just over £4.2m.
FMW managing director Peter Blanc said the board had ruled out expansion through acquisition, preferring to concentrate on exploiting niche areas.
He said: "By recruiting and training top quality business producers we can achieve the growth we require without the risk, expense and distraction involved in acquiring other brokers.
"Guys like Folgate and Stuart Alexander perform that role very well in the market. Our role is to seek out the business not the brokers."
FMN has predicted gross written premium in excess of £30m for 2004.
