PSC Insurance Group, an ASX listed company and the parent company of PSC Connect NZ has announced the release of its comprehensive half-year results to December 31, 2023.
The key highlights for the half year are:
· Increased Revenue: For half the year up by 15% to $159.0M
· Strong Financial Performance: Underlying EBITDA (earnings before interest tax, depreciation and amortisation) of $54.2M for the half year - an increase of 12% from last year
· Profit Momentum: Underlying NPATA (net profit after tax and amortisation) of $37.1M for the half year - an increase of 6%.
This outstanding performance is attributed to the unwavering dedication to excellence across Distribution and agency businesses. Notably, the completion of nine acquisitions during this period has further bolstered the positive trajectory. PSC New Zealand has also celebrated the expansion to four operational offices, including the recent acquisition of a broking business in Hamilton, reinforcing their commitment to local presence and service excellence.
Welcoming New Faces
PSC Connect continues to see high calibre member brokers joining, enriching the network with exceptional talent and expertise. Alan McIntyre, founder of Sure South Services Ltd, brings a wealth of experience from Ireland and the NZ market, infusing the team with his passion for client-centric service. Alan’s new business is based in Lumsden, Southland, which is the perfect location to live for anyone who has a passion for trout fishing, as he and his partner do.
Similarly, Larrissa Wade of Gulf Island Insurance joined at the end of 2023. Gulf Insurance on Waiheke Island (Auckland) is dedicated to offering top-notch general insurance advice, fostering strong client relationships, and expertly identifying risks and exposures to secure the ideal coverage for clients’ needs. With over 35 years of local experience and solid insurance knowledge, Larissa will fill the void of local insurance brokers.
Nick Harding of Harding Insurance Brokers, joined the PSC Connect network, based in Whanganui in December 2023. Nick is passionate about providing exceptional customer service to his clients and has strong ties within the Wanganui community.
Recently PSC made two strategic appointments to their head office team. Kate Henderson joined the team as National Sales and Relationship Manager early in 2024. With over 20 years of industry experience, Kate brings invaluable insights into navigating the complex landscape of insurance, and a wealth of knowledge in risk management, underwriting, and strategic planning. Kate is tasked with driving business growth, continuing to build on our insurer and supplier relationships, and identifying opportunities for the wider business.
Also in early January Alifiyah Lakdawala joined the Central Services Team in the role of Platform Specialist. Alifiyah has over 25 years’ experience in sales, management and project management, with her most recent role within a general insurance brokerage where she was integral in establishing processes and system training.
These two additional roles to support the wider business reinforce PSC Connects commitment to their own growth, and the growth of their member brokers. PSC are committed to building strong partnerships, and delivering excellence in service and solutions.
