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Alsford Page & Gems are delighted to announce that a consortium consisting of current members of the management team and Australian company PSC Capital, have purchased Alsford Page & Gems Holdings Ltd, the parent company of Lloyd’s Insurance and Reinsurance Broker, Alsford Page & Gems (APG).

Alsford Page & Gems, which was originally established in 1977 under the name of Robert Arnold and Company, provides global insurance and reinsurance solutions to a broad range of clients both in the UK and Internationally.

PSC Capital is a privately-owned investment company specialising in the insurance sector with combined turnover in excess of AUD 650m. PSC was established in 2006 and has an extensive track record in business reconstruction and development. The group includes a portfolio of assets ranging from start ups to mature businesses like APG. PSC’s business activities span five countries with operations in Australia, New Zealand, United Kingdom, Philippines and Hong Kong.

Commenting on the acquisition, David Pratt, CEO of APG said:
"This is the culmination of an extensive process resulting in the introduction of an established, experienced and expansive new partner. We are delighted to make this announcement, as this will deliver the financial strength and stability required for our business to grow and our business partners to receive the highest of standards of service. We welcome receiving the strong financial backing from PSC to continue our strategy of developing our independent wholesale broker business. APG has a long history in the provision of transactional broking solutions and we look forward to discussing the benefits that our new structure will bring to our trading partners. The board of APG is enormously grateful to our exiting shareholders for their contribution to our business over the last 30 plus years. As we start a new era with PSC, we now look forward to the increased opportunities that this partnership will bring as a whole."

Paul Dwyer, Managing Director of PSC Capital also commented:
"We are thrilled to have invested alongside the skilled management team at APG. David and his team have shown tremendous character whilst the business has made a number of strategic changes in recent years. APG has a bright future and we look forward to supporting our partners in the quest to provide specialist insurance and reinsurance solutions around the globe."

Throughout this process APG has been advised by Mazars LLP and HFW. PSC has been advised by DLA Piper.

Further enquiries can be directed to:
David Pratt, Chief Executive of Alsford Page & Gems on
david.pratt@apg.net or +44(0)2074560500

Paul Dwyer, Managing Director of PSC Capital on
paul.dwyer@psccapital.com.au or +61386969102

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