PCF Insurance Services has announced its acquisition of the insurance business of Asset Insurance Agency.
“Asset Insurance shares our commitment to cultivate quality relationships throughout their footprint and deliver world-class service,” said PCF Insurance CEO Felix Morgan. “The addition of Asset aligns with our acquisition strategy by bringing in an experienced team that shares our collaborative culture, commitment to organic growth, and passion for service.”
Both companies hope the partnership results in the Asset team and its clients benefiting from expanded coverage solutions, more competitive pricing, and value-add services like in-house risk management and claims advocacy.
PCF Insurance continues to expand its M&A pipeline by targeting moves that strengthen its core property and casualty and health and benefits business in different markets. The company is making business moves to help reach its goal of adding $50 million in EBITDA from M&A by year-end.
Asset Insurance Agency specializes in providing auto, home, commercial, and life insurance solutions to individuals and businesses across Massachusetts, New Hampshire, Maine, Florida, Rhode Island, and Connecticut.
On the other hand, PCF Insurance Services of the West, LLC is a brokerage headquartered in Lindon, Utah. It offers different commercial and personal lines, life and health, employee benefits, and workers' compensation insurance solutions. The company has more than 4,000 employees across the U.S., and it ranked #19 on Business Insurance's 2024 Top 100 Brokers and #13 on Insurance Journal's 2024
Earlier this month, PCF also acquired DLD Insurance Brokers in California. The acquisition's strategy is similar to its current one: bolstering its core offerings in property & casualty and health & benefits in key markets while enhancing its in-house expertise in risk management and loss control for expanding industries.
Other recent acquisitions include Montalvo Insurance Agency, Ignitist, The Brady Agency, Roseberry Insurance Agency, and The Sinnott Agency.
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