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PSC names new MD as founder steps aside

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PSC Insurance Group has appointed Tony Robinson as MD following founder Paul Dwyer’s decision to step down.

As reported this morning by insuranceNEWS.com.au this morning, Mr Dwyer will remain Deputy Chairman of the company and retain his place on the audit and risk committee.

Mr Robinson has been a non-executive director at PSC, and has significant experience in the insurance and wealth management sectors, including leadership positions at OAMPS, IOOF and Centrepoint Alliance. He is on the board of Bendigo and Adelaide Bank.

“Tony Robinson has a great understanding of the company, given his past PSC board experience, and will provide further strategic direction and experience in the role,” Chairman Brian Austin said today.

Mr Dwyer will continue to focus on strategic acquisitions and growth opportunities, while Mr Robinson will take over day-to-day functions.

Mr Austin says Mr Dwyer has built PSC from a small inner-city broking company to a significant participant in the global insurance broking market.

“Paul believes it is the right time to step back from the day-to-day activities of managing a public company, which we support, and we believe the new arrangements will see him continue to contribute in an area of his great interest and strength, that being acquisitions and growth,” Mr Austin said.

PSC was founded in 2006 as a single business with revenue of about $810,000 before expanding through acquisitions and growth from existing operations. It listed on the Australian Securities Exchange in 2015.

The company, which now also includes underwriting agencies and an increasing presence in the UK, reported net profit of $27.8 million last financial year.

Mr Austin says there are no other changes to the organisation’s structure, with Rohan Stewart remaining CEO and operating activities continuing to report to him.

Mr Robinson’s appointment is effective from Thursday.