$48 million acquisition of local insurance brokers

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One of regional Australia’s largest regional privately owned insurance brokerages, Shepparton-based Griffiths Goodall Insurance Brokers (GGIB), announced yesterday that it is entering a binding agreement for PSC Insurance Group Limited (PSC) to acquire the broking business.

Founded by Dudley Griffiths and Joseph Goodall in 1989 as a small local brokerage, GGIB has expanded and earnt a solid reputation for delivering outstanding service and value to its clients.

GGIB is a well-diversified insurance broker with over 30 staff who have a particular expertise in commercial, industrial, transport, logistics, pleasurecraft, agri-risk and personal insurance.

PSC will be purchasing the GGIB insurance broking portfolio and other key business assets, with the business continuing to operate out of its Shepparton and Melbourne premises. GGIB key management will continue their role of managing the day-to-day operations of the business, whilst all staff will be offered new employment agreements, with PSC retaining all accrued entitlements.

This partnership represents an important milestone for GGIB, enhancing and strengthening their broking and claims capabilities and enabling the professional team to continue to provide excellent risk outcomes and high levels of service. Ultimately, the new acquisition, which is expected to be finalised during July, will deliver even better results for the region.

GGIB director, Benjamin Goodall said, “We are delighted to be selling the business to the PSC Insurance Group and working closely with the management team to enhance the offerings we can provide to our customers.

“The business will continue to provide exemplary service to customers and provide opportunities for our staff. I and all existing directors will be remaining in the business to grow and enhance our client offerings.”

If you have any questions regarding this exciting announcement, contact GGIB on 5821 7777 or visit www.ggib.com.au/faq-psc-acquisition-of-ggib/