PSG Konsult acquires the remainder of Absa Insurance and Financial Advisers Proprietary Limited’s (“AIFA”) face-to-face advisory short-term insurance brokerage business

Dan Hugo, Chief Executive of Distribution at PSG.

Gains over 80 insurance advisers and over 31 000 clients.

PSG Konsult, through its subsidiary PSG Wealth Financial Planning Proprietary Limited, the listed independent financial services provider, has concluded an agreement to acquire the remaining short-term face-to-face advisory insurance business from AIFA.

The acquisition is strategically aligned to PSG Konsult’s acquisition of AIFA’s Commercial and Industrial Short-Term Insurance Brokerage Business that was announced in September 2017.

The business consists of 83 advisers and over 31 000 clients with a personal lines focus. It will be seamlessly integrated into the PSG Konsult distribution network of PSG Insure advisers.

The acquisition is subject to conditions typical for a transaction of this nature, including regulatory approvals.

“This further enhances PSG Insure’s footprint across South Africa, strengthening our advice network and our value proposition to clients. We are very pleased to acquire this high-quality business, in addition to the business acquired in 2017,” says Dan Hugo, Chief Executive of Distribution at PSG.

PSG Insure offers short-term insurance solutions for individuals and businesses, partnering with leading insurance providers to deliver a wide range of insurance options.

“PSG Konsult’s core focus remains organic growth, but it remains open to selective acquisitions that are complementary additions to its overall client offering,” says Hugo.