PSC Insurance Group has completed its acquisitions of UK commercial brokerages, Trust Insurance Services and Abaco Insurance Brokers.

The listed Melbourne-based broker says the purchases were finalised after it received clearances from UK regulator, the Financial Conduct Authority.

Last month PSC announced it would purchase Trust Insurance Services for $28 million and Abaco Insurance Brokers for $38 million, with payments for both deals to be made in three separate tranches.

PSC reiterated both brokerages are expected to contribute about £4 million ($7.2 million) in underlying earnings before interest, tax, depreciation and amortisation (EBITDA) on an annualised basis.

The group has projected the business will achieve underlying EBITDA at the top end of its $65-70 million forecast for this financial year. The forecast excludes the incremental performance of these acquisitions.

On a pro-forma basis, the top end of the EBITDA range would be about $77 million with a full annual contribution from the two brokerages.