TFP Schemes, the Cardiff based wholesale "hire and reward" vehicle insurance specialist has announced the purchase of The Marchant Group (TMG) as part of their continuing expansion programme.

TMG, established in 1976 and located in Blackwater Surrey, has provided wholesale schemes to the broker market for over 20 years with a wide range of products for the hire vehicle sector.

All existing TMG business will be transferred and administered from the 1st May 2010, by the TFP Schemes Cardiff office. Existing TMG brokers will receive notification of the change, direct from TFP Schemes with details of the ongoing renewal and administration process for clients.

Commenting on the acquisition, Damian Walsh, Partner at TFP Schemes said “We are delighted with the acquisition of the TMG business; this is a perfect match to our own, providing us with further expansion in both the taxi fleet and single taxi product lines. The purchase is part of our exciting growth strategy which has now seen the acquisition of several wholesale books and the development of further product lines such as Truck, Special Types and Agricultural Vehicles, along with bespoke taxi insurance policies such as Multi Vehicle and Short Period covers. Our service to brokers and the size of customer base in the hire vehicle insurance market now makes TFP Schemes the leading provider in this sector. We are actively looking to grow our business in 2010 having made significant investment in our online offering; this will be done both organically and through further acquisition”.