Primary Broker Services will hit its target premium income of £20m by the end of its first full trading year.

The company, launched five months ago, has formed partnerships with its first 50 brokers and moved to larger offices in Birmingham.

Managing director Jonathan Davey was upbeat about the company's performance so far, announcing the recruitment of a further 30 staff in 2003.

Three key appointments have already been made.

Mark Whitlow has taken up the post of operations manager, Andy Jones will head up the UK sales division and Finton Griffin has been appointed sales manager for Scotland and the northwest and northeast of the UK.

Davey said the company's business model had been extremely successful.

"We're also committed to our strategic acquisition trail of acquiring underwriting agencies that would be a suitable fit with Primary Broker Services," he said.

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