Leading insurance brokerage PCF Insurance Services has announced its acquisition of Louisiana-based Oak Point Risk Advisors. The terms of the deal were not disclosed.
Oak Point Risk Advisors is a niche risk management and insurance agency that focuses on providing commercial insurance solutions to clients in the maritime, oil and gas, and construction industries.
“We are excited to welcome Oak Point Risk Advisors to our PCF Agency Partner network,” said PCF Insurance founder, chairman, and CEO Peter C. Foy. “Oak Point is a growing agency with a unique and deep understanding of the risks businesses along the Gulf Coast face, and their expertise in mitigating risks in the hazardous industries that they serve will be invaluable to our partner network.”
“At our very core, Oak Point Risk Advisors is a client service organization that prides itself on being a trusted advocate for our clients,” commented Oak Point Risk Advisors president Ronny Sternfels. “By joining the PCF Agency Partner network, we are empowered to build upon and expand our risk management and insurance packages to protect the workforce and business continuity of our clients.”
According to a company release, PCF said that it partners with agencies that have a “strong desire to expand capacity” by leveraging their deep bench of collective experience.
PCF’s last acquisition prior to Oak Point Risk Advisors was TCU Insurance Agency – a subsidiary of Teachers Credit Union (TCU). Acquired last December, TCU Insurance Agency offers insurance solutions for home, rentals, auto, motorcycle, senior health care, business, and life to customers in Michigan and Indiana.
