PSP Group buys Paul Hicks Insurance Services

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PSP Group, based in the South West, has bought Paul Hicks Insurance Services for an undisclosed sum.

This is the broker’s fifth deal in the last two years and brings the company to a gross written premium of £20m.

Paul Hicks Insurance was founded in Lanceston in Cornwall in 1993 by Paul Hicks. The broker has six employees, including Hicks, and all staff will remain with the business and continue trading from the same premises.

According to PSP, Hicks is planning to retire following the deal,

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