Centrepoint Alliance Premium Funding has agreed an improved and increased finance facility with NAB.

The business – the largest independent premium funder in the industry – has expanded its market share in recent years.

Loan volumes grew 16% last financial year and have risen 14% over the past three years.

Double-digit growth is expected next year, the company says.

The new finance facility allows for a 35% limit increase to $145 million, a significant reduction in loan margins and improved loan terms and conditions.

The facility term has also increased, with the next review date set at January 31 2015.

“We are delighted with our relationship and the level of support from our funding partner NAB,” Centrepoint Alliance Premium Funding CEO Bob Dodd said.

“It has demonstrated its confidence in our business with this enhanced facility, underpinning our future growth expectations.”