Primary Group is understood to be establishing its own professional indemnity (PI) division, Prime Professions, with a team of staff from Alexander Forbes Professions.
In September Insurance Times reported at least 10 staff were expected to quit the company to join a Primary Group division.
Alexander Forbes confirmed this morning it had received resignations from 25 “senior and support” staff. It said it anticipated more resignation letters before the end of the week.
Primary is expected to release a statement this afternoon about its entrance into the professional indemnity market.
Alexander Forbes International Risk Services chairman John Percy-Davis said the company remained “one hundred per cent committed” to its PI division. He added the division continued to operate with 160 specialised staff.
“Our plans to reorganise and further strengthen the division are well advanced and we will shortly implement a revised management structure,” he said.
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