PSC secures Hiscock Insurance Brokers

National protection financier PSC Insurance Brokers has acquired Melbourne-based protection business Hiscock Insurance Brokers (HIB) for $3.04 million. 

PSC uncovered in a divulgence to the Australian Stock Exchange that the underlying installment for the buy will be $2.02 million, with consequent installments to be based around an ascent and fall equation subject to the wage of the business over a 18-month period from the finishing date. 

The advantage is required to produce income around $1.5 million. 

PSC said in a divulgence to the ASE that "HIB is a long-standing protection broking business with a solid history of giving its customers a quality included administration, and is very much put in the developing south eastern rural areas of Melbourne."