PSC Insurance Group has spent more than $5 million on acquisitions, including $4 million for travel insurance agency Online Insurance Brokers.

The Melbourne-based listed company is also paying up to $1.2 million for an initial 25% stake in Brisbane-based BCS Broking, a construction-focused broking business. PSC will increase its stake in BCS to 50% over three years.

“The investment will complement and expand the group’s existing focus and specialisation in the value chain of construction insurance across Australia,” PSC says in a statement.

The group is also buying the remaining 50% of RP Hoxton Park – a franchisee in the group’s Reliance Partners business – for more than $500,000.