PSC Insurance Group (ASX:PSI) completes acquisition

Company News

by Ortenzia Borre

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Last Updated: 13/12/2019 12:02 PM

PSC Insurance Group (ASX:PSI) have completed the acquisition of Carroll Insurance Group (CIG).

CIG is a direct and wholesale broking business, operating in the Lloyd’s and London markets and PSC believes is a highly complementary acquisition that represents a ‘bolt-in’ with the group’s existing Carroll Holman Insurance Brokers business in London.

The acquisition has been funded from existing cash resources.

Shares in PSC Insurance Group (ASX:PSI) are trading 2.1 per cent lower at $2.80