PSC Insurance Group

PSC Insurance Group provides insurance services industry. PSC has a proven track record in business acquisition, establishment and turnaround in the insurance services industry. The PSC Group comprises a portfolio of businesses ranging from start-ups to mature businesses. PSC has an experienced team of insurance practitioners, with broad skill sets, at both Board and Executive level. These are utilised across the different businesses to leverage efficiencies and opportunities. PSC operates a diversified insurance intermediary business with operations and revenue in Australia, New Zealand and the United Kingdom. Using FY2015 revenue as a guide, the concentration of revenue across jurisdictions is Australia approximately 66.0%, United Kingdom approximately 33.3% and the balance from New Zealand. The PSC Group’s principal businesses within the general insurance market comprise: insurance broking; an Authorised Representative network (PSC Connect); reinsurance broking; underwriting agencies; and wholesale insurance broking in the United Kingdom Using FY2015 revenue as a guide, the concentration of revenue across business units is insurance broking 48.2%, Authorised Representative network 6.5%; reinsurance broking 14.2%, underwriting agencies 15.6% and wholesale insurance broking in the United Kingdom 13.2%. The PSC Group also operates complementary businesses including life insurance broking, on-line direct general insurance and third party claims management. Using FY2015 revenue as a guide, the concentration of revenue across these businesses is 2.3%. The Company does not take underwriting risk but maintains relationships with many insurers in Australia, New Zealand and the United Kingdom. The PSC Group conducts its business through a number of separate licensed subsidiaries and also operates, through PSC Connect, an Authorised Representative network in Australia and New Zealand which are independent businesses operating under particular PSC Group licenses. The PSC Group has a diverse client base. It predominantly services the insurance needs of SMEs. These clients have access to the full range of business services offered by the PSC Group. The PSC Group also services other insurance brokers through its United Kingdom broking and underwriting agency operations and services insurance carriers by way of their reinsurance operations.