INSURANCE broker Bollington Group has underlined ambitious growth plans by buying one of its biggest rivals, writes Kevin Feddy.

Its é5m swoop for TMIS, which trades as F M Green, is the group's third acquisition of the year, following takeovers of Wigan-based M G Smithies and Preston firm Wallwork Jensen.

The TMIS takeover means Bollington Group now controls é75m of premium income, up from é58m.

Chairman Paul Moors, 43, said today he is looking to take that figure to é250m by the end of 2009, which would make Bollington the UK's third largest independent broker. It may then opt for a stock market flotation.

Bollington, whose headquarters are in Bollington, near Macclesfield, has a 180-strong workforce, with offices in Manchester, Stoke and London.

It specialises in insurance services to the motor trade, care homes, private hospitals and charities, as well as commercial cover and personal insurance for homes, cars and travel.

TMIS is a motor trade insurance specialist, providing cover to customers such as Unipart for motor parts, delivery drivers and vehicle recovery operators.

Leila Porter, Sarah Flinn and Mark Broadhead, of Manchester solicitors Beachcroft, advised Bollington on the TMIS acquisition. Tweet