Primary Broker Services (PBS) is preparing to push into the South East with the opening of a City office, Insurance Times has learned.

It is understood that 20 staff will be recruited for the office, with some staff believed to be coming from NIG.

A PBS spokeswoman said the development of a City office was a "natural progression" from the growth of its operations in Glasgow. She said: "PBS spotted an opportunity for growth in the market and took it."

A source commented that a £20m delegated authority deal with AXA was fuelling PBS' rapid growth.

The source added "at least six" staff have joined the new operation from NIG's City commercial office.

An NIG spokesman confirmed it had received resignations from "a number of personnel" based in its London office. He would not comment on who had gone.

' Monument chief operating officer David Campbell has resigned from the Lloyd's broking business.

Campbell joined the company's executive management team in February.