PSC Insurance Group has bought broking businesses in Melbourne and Canberra and flagged more acquisitions in coming months.

The group paid $4.2 million for Insurance Solutions Corporation, which will be merged with PSC businesses serving Melbourne’s south-east growth corridor.

It paid $4.65 million for general and life business Capital Insurance Brokers, which has operated in Canberra since 1979.

The first-year impact on earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to be about $1.3 million, with the contribution likely to rise over the medium term as the businesses are integrated, PSC says.

It says underlying EBITDA in the first half of the financial year is expected to increase 25-30% from a year earlier, up from an October forecast of 20%.

PSC, which operates in Australia, New Zealand and the UK, held a share placement last year to fund growth plans.