PSC Insurance (ASX: PSC) Downgraded To Hold On $6.19 Takeover Offer
It is a pity to have our holding period cut short by a takeover, but at least the price is decent.
PSC Insurance (ASX: PSI)
PSC Insurance Group Limited (ASX: PSI) is an Australian diversified insurance services provider headquartered in East Melbourne. Established in 2006, PSC operates through four segments: Distribution, Agency, United Kingdom, and Group.
PSC Insurance offers commercial and life insurance broking, workers compensation consulting, and underwriting services across various industries, including construction, hospitality, medical, and professional risks. The company also manages an online travel insurance business under the Travel Insuranz and Insure4Less brands.
PSC listed on the ASX on 15 December 2015 at an IPO price of $1.00 per share. In October 2024, PSC was acquired by UK-based Ardonagh Group for A$6.19 per share, leading to its delisting from the ASX. Post-acquisition, PSC’s operations were integrated with Ardonagh’s existing businesses to enhance its global insurance distribution platform.
PSC Insurance (ASX: PSI) H1 FY 2024 Results
Plus takeover offer rumours boosted the PSC Insurance share price.
PSC Insurance (ASX: PSI) Takes Over Ensurance (ASX: ENA)
As former shareholders of Ensurance (ASX: ENA) we now own PSC Insurance (ASX: PSI) shares accumulated at a discount to current prices.
Steadfast Group Ltd (ASX:SDF) Compared To PSC Insurance (ASX: PSI) And AUB Group (ASX: AUB)
ASX listed Insurance brokers AUB Group (ASX: AUB), Steadfast Group (ASX: SDF) and PSC Insurance (ASX: PSI) have been strong performing stocks.