PCF INSURANCE SERVICES ACQUIRES ALLIED MARKETING INSURANCE GROUP

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Sep 06, 2023, 09:30 ET

LEHI, Utah, Sept. 6, 2023 /PRNewswire/ -- PCF Insurance Services (PCF), a top 20 U.S. insurance brokerage firm, has acquired Allied Marketing Insurance Group, a Florida-based health and benefits agency driven to help the state's underserved multicultural community of agents and clients. Allied Marketing Insurance Group serves more than 100,000 clients with Florida Blue, an independent licensee of the Blue Cross and Blue Shield Association.

"PCF Insurance's strategic blueprint centers on offering a national reach of solutions through local service built on trusted relationships, which is why we are excited to welcome Allied Marketing Insurance Group to the PCF family," said Peter C. Foy, Founder, Chairman and CEO of PCF Insurance. "Allied shares our commitment to cultivating strong, local relationships and offering a flexible service model to best meet the needs of clients. This addition further strengthens our capacity to serve Florida families and individuals with health insurance and Medicare coverage."

The addition of Allied Marketing Insurance Group, along with its previous acquisition of Covenant Assurance in New Jersey, align with PCF Insurance's value-accretive growth strategy, which has been accelerated by the recently announced $400 million financing to further fund the company's expansion through mergers and acquisitions.

"PCF is committed to attracting new partnerships that match our high-growth, entrepreneurial model, align with our core business and continue to fuel our organic growth," added Felix Morgan, PCF Insurance's Chief Financial Officer and Chief Operating Officer. "We continue to lean into our industry practice groups where we have deep knowledge and experience."

The terms of the deal were not disclosed.

About PCF Insurance Services
A top 20 U.S. broker headquartered in Lehi, Utah, PCF Insurance Services is a leading full-service consultant and insurance brokerage firm offering a broad array of commercial, life and health, employee benefits, and workers' compensation solutions. Propelled by its people, PCF Insurance's people-centric operating model and entrepreneurial environment support its tremendous growth profile, offering partner agencies alignment through equity ownership, significant leadership incentives, and resources. Ranked #20 on Business Insurance's 2023 Top 100 Brokers and #12 on Insurance Journal's 2023 Top Property/Casualty Agencies, PCF Insurance is a notable leader in the insurance space, with more than 3,000 employees across the U.S. Learn more at pcfins.com.

SOURCE PCF Insurance Services