PSC’s acquisition of MA Insurance Brokers is not expected to reduce competition in the transport market, the mergers watchdog says.

Envest-owned PSC applied for a notification waiver under Australian Competition and Consumer Commission merger rules, and on June 18 it was given approval to proceed with the deal.

The commission says information provided with the waiver application shows the pair’s “combined share of supply of general insurance broking services in Australia, including for commercial motor insurance, is estimated to be low and the increase in share arising from the acquisition would be small.

“There are several alternative suppliers of general insurance and commercial motor broking services … The ACCC considers that the acquisition is unlikely to give rise to any material lessening of competition.”

PSC announced the acquisition last week, describing the deal as combining MA’s “strong experience and established client relationships in the transport sector with [our] national network, broader placement capability and expanded insurer relationships … along with additional support across risk advisory and claims”.

MA has started operating as PSC Transport Insurance Brokers, which is 80% indirectly owned by Envest.

Barry Mathison and Mariann Illyes, who co-founded MA in 2021, retain an equity stake and will oversee the business as managing principals.