PSC agrees Victoria broker dealJuly 10 2019 by InsuranceAsia News Staff
Melbourne-headquartered PSC Insurance has agreed to buy the broking business of Griffiths Goodall Insurance Brokers for A$48 million (US$33.3 million).
The independent brokerage is based in Shepparton, Victoria and has over 30 staff.
Griffiths Goodall’s key managers will continue to oversee the day-to-day operations of the business, while all staff will be offered new employment agreements with PSC.
PSC’s chief executive Rohan Stewart said: “The current owners have built a very good client centric business with a great broking team, and this will significantly increase our regional presence in Victoria.”
The Australian Securities and Investments Commission and Australian Federal Police officers raided its offices in northern Victoria in March, seizing a number of files.
Director Ben Goodall said at the time that the raid was “not a police search or criminal investigation” and was related to a paperwork-based issue.
In May, Tony Robinson was appointed as managing director following the decision by founder Paul Dwyer to step down from the role.
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