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BRIEF-PSC Insurance updates on acquisition of Reliance Partners franchise business

Published 20/01/2016, 10:46 am
© Reuters.  BRIEF-PSC Insurance updates on acquisition of Reliance Partners franchise business
PSI
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Jan 20 (Reuters) - PSC Insurance Group Ltd PSI.AX :

* Well aware of concerns that those licensees have failed to comply with some of their legal obligations"

* It has been advised that breaches or potential breaches by those licensees have been notified to the regulator, ASIC.

* On 15 January 2015 entered agreements to acquire Australian reliance corporate insurance broking business and reliance partners insurance adviser franchise network

* Says PSC intends to move to complete the acquisitions once all conditions precedent have been satisfied.

* PSC has not contracted to acquire the licensee entities

* Source text for Eikon ID:nASX4rQWGv

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