PSC Insurance Group has purchased Perth-based Ultimate Safety Solutions Australia (USSA) and the majority of shares in Eden Software, which owns USSA's SafeX technology, for an upfront payment of $700,000.
PSC Insurance Group has bought National Franchise Insurance Brokers in a deal worth up to $1.2 million, two months after the Subiaco-based firm was placed into administration.
Former footballer and insurance broker Andrew Donnelly has failed to overturn freezing orders that were imposed in January in relation to the alleged misuse of $5.1 million of trust funds from his old business.
Alan Bishop has spent 40 years building insurance broker EBM into a national player and worked through many business cycles over that time, but arguably none as tough as the current conditions in Western Australia.
Melbourne-based PSC Insurance Group has put a value of $7.7 million on the Western Australian arm of Australian Reliance, after announcing today it was buying the insurance broking group in multiple phases.
Australian Reliance has become the third major insurance broker in Western Australia to change hands in the space of five months, with newly listed company PSC Insurance Group agreeing to buy the Perth-based group.
The search for new office space, combined with a director's retirement plans, were two triggers for the merger between McKenna Hampton Insurance Brokers and Centro Insurance and Risk Managers, which will come into effect from July 1.
