PSC Insurance Brokers NZ has brought the Threefold and Musk businesses into its operations after moving earlier this year to wind up an authorised representative network.

Parent company Envest is focusing on New Zealand expansion through equity-owned broking operations, closing the PSC Connect network that launched in 2012.

Threefold General Insurance, which has been rolled into PSC Insurance Brokers, will add $NZ6 million ($5.2 million) in gross written premium.

It will continue to operate from the Takapuna office to ensure continuity for clients and brokers, and Peter Snedden and his team join PSC.

The acquisition of Musk Insurance – a member of PSC Connect since 2017 – was completed on November 1, with director Mustafa Bhamji joining PSC Auckland commercial, led by Jolene Rautenbach.

PSC Insurance Brokers NZ national manager William O’Brien says the addition of Mr Snedden, Mr Bhamji and their teams strengthens capabilities and positions the business for continued growth.

“These acquisitions and the integration of several PSC Connect member brokers mark an important milestone for PSC in New Zealand,” he said.