DARLINGTON-based insurance provider BIB Underwriters (BIBU), has

announced strong financial results and plans to recruit more staff to support its plans for growth.

The business provides specialist wholesale farm, estate and rural insurance products to more than 800 brokers throughout the UK.

It has produced premium growth of 25 per cent in the last two years

and double digit growth in each of the last six years.

It recently won new business worth about £2m in additional premium

and has launched a recruitment drive for five new staff, including three new underwriters to join its 50-strong team.

Stephen Record, the firm's managing director, said: "There are several reasons for our rapid expansion in our chosen market. Firstly, farming has proved to be more resilient to the current recession than most other sectors of the economy.

"Secondly, we provide great service and products at competitive prices and have become a first choice for agricultural and rural insurances for many UK brokers. Our people are passionate about delivering first class service to our broker customers. This really sets us apart and creates growth opportunities."

Mr Record said the thriving business was a testament to the founding Chairman, Martin Littleton who died in December.

"Martin believed in the people that he employed and he wanted to create a robust business that would continue to be a fantastic place for local people to work for many years to come. I believe that we are successfully delivering his vision," he added.

BIBU began life in a small office in Duke Street, Darlington in 1988 with two employees and in 2010 it was acquired by one of the country's largest independently owned insurance intermediaries, Cullum Capital Ventures (CCV).