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PSP Group acquires UK-based insurance broker

PSP Insurance & Financial Solutions Ltd., which trades as PSP Group, has acquired Paul Hicks Insurance Services for undisclosed terms, Insurance Age reported.

Paul Hicks Insurance's employees will remain with the business, which will continue operating out of its location in Launceston, Cornwall, in southwestern England.

Founder Paul Hicks will be retiring following the deal but will remain with the business to assist with integration, according to the report.