Coleshill-based insurance courtesy car and claim management company Accident Exchange Group yesterday said referrals in its first quarter were up by almost 90 per cent on a year earlier, describing its performance as "satisfactory".

In an AGM statement the company's chairman, Lord Young of Graffham, said the company had an excellent pipeline of potential new agreements and was "confident of achieving a further year of strong performance".

Seventy-five per cent of Audi's 120 dealers have now signed up to Accident Exchange's Audi Accident Aftercare service, which will be launched at the end of this month.

DCML, acquired in May, is performing in line with management expectations, the company said, and Dixon Motor Holdings is to use Accident Exchange's software to manage their courtesy car fleet and provide insurance through their 42 dealers.