PSG Insure, a division of JSE-listed PSG Konsult, announced on Monday that it has successfully completed the integration of its substantial new team of commercial advisers.
These are the professionals that joined the company following the recent transaction with Absa Insurance and Financial Advisers (AIFA).
The transaction was announced in September 2017 and saw PSG Insure acquire AIFA’s commercial and industrial insurance brokerage business, with a total of 31,000 new clients.
On the back of this, PSG Insure announced in February that it will also acquire the remainder of AIFA’s face-to-face advisory short-term insurance brokerage business, which services a further 32,000 clients.
This transaction is currently in progress and will be completed later this year.
“The augmentation of our commercial advisory force – coupled with the planned expansion of our personal lines network – further enhances PSG Insure’s footprint across South Africa. This, in turn, strengthens our value proposition to clients,” said Bertus Visser, chief executive of distribution at PSG Insure.
“Integrating such a large number of advisers and their clients into our business as seamlessly as possible has been a major project. It’s one which I’m glad to say has been successfully completed, and we expect the second transaction to run on a similar basis,” he said.
PSG Insure offers short-term insurance solutions for individuals and businesses.