TFP Schemes acquires M Wood Insurance Services

TFP Schemes, the specialist hire car insurance wholesaler, has purchased the wholesale arm of Bridgend- based brokers M Wood Insurance Services.

The purchase on the 1 March is part of its exciting expansion programme and comes on the back of what the company describes "a period of excellent organic growth".

Founded in 1998, the company last year celebrated its tenth anniversary with a record year, which saw its turnover grow by over 45%. The company was recently awarded the prestigious title of "Wholesale Intermediary of the Year" at the UK Broker Awards and has seen its product range grow from the full range of hire vehicles from taxis

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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