Hitachi Capital, the independent GAP, PPI and MPPI provider has reported a 120% jump in its profit before tax from £964,000 to £2.118m for the same period.
The company also reported a 46% growth in premiums written from £23m in 2004/5 to £33.7m in 2005/6.
Steve Lawler managing director of Hitachi Capital Insurance Europe said: "Since moving out of the extended warranty market to focus on finance related insurance, we have seen a dramatic increase in new business signed through our intermediary networks."
In September 2005 the firm formed a strategic alliance with Advent Solutions Management to sell MPPI products through mortgage brokers and IFA's under the brand name Securah.
Steve added: "This will give us greater presence in the market from which we expect to see healthy sales."
