Jan 20 (Reuters) - PSC Insurance Group Ltd (PSI) : Well aware...

Jan 20 (Reuters) - PSC Insurance Group Ltd (PSI) :

• Well aware of concerns that those licensees have failed to comply with some of their legal obligations"
• It has been advised that breaches or potential breaches by those licensees have been notified to the regulator, ASIC.
• On 15 January 2015 entered agreements to acquire Australian reliance corporate insurance broking business and reliance partners insurance adviser franchise network
• Says PSC intends to move to complete the acquisitions once all conditions precedent have been satisfied.
• PSC has not contracted to acquire the licensee entities