PSC confirms takeover talks as consolidators tipped to swoop

Consolidation

Australia-headquartered PSC Insurance, a Top 100 broker in the UK, has confirmed being approached by multiple parties and in talks regarding a possible buyout.

In a statement to the Australian Stock Exchange yesterday responding to news in the Australian Financial Review it said the discussions may or may not lead to an offer being made for the business.

RelatedPSC Insurance buys Turner Rawlinson 

Australian group PSC Insurance has bought London-based broker Turner Rawlinson, according to filings at Companies House.

The firm did not name the parties involved however AFR had reported PSC holding informal discussions with Gallagher and Ardonagh with Goldman

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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