Jan 14 (Reuters) - PSC Insurance Group Ltd PSI.AX :
* Acquisition of reliance partners franchise business and the
* Says PSC has agreed to pay an unadjusted purchase price of $31.57 million
* Says PSC will appoint john dwyer, who is a current director of PSC, as CEO and dougald elmer as CFO of the reliance group
* Says purchase price will be funded from existing cash reserves
* Entered into conditional agreements to acquire Australian reliance corporate insurance broking business
* Purchase price will be funded by accessing the company's debt facility
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