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PSC Insurance receives regulatory approval for Paragon acquisition

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PSC Insurance receives regulatory approval for Paragon acquisition

Australia's PSC Insurance Group Ltd. received approval from the U.K. Financial Conduct Authority for its acquisition of Paragon International Holdings Ltd.

The acquisition remains subject to a minor precedent condition, the company said, adding that it is confident that the transaction will be completed by the end of September. Paragon will continue to operate as an autonomous business unit of PSC Insurance following the acquisition.