PCF Insurance Services Acquires Asset Insurance Agency Team

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Aug 15, 2024, 08:55 ET

LINDON, Utah, Aug. 15, 2024 /PRNewswire/ -- PCF Insurance Services, a top 20 U.S. insurance brokerage, announced today it has acquired the insurance business of Asset Insurance Agency, based in Peabody, Massachusetts.

"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."

Asset Insurance Agency specializes in auto, home, commercial and life insurance solutions for individuals and businesses across Massachusetts, New Hampshire, Maine, Florida, Rhode Island and Connecticut. By joining forces with PCF Insurance, the Asset team and its clients will benefit from expanded coverage solutions, more competitive pricing, and value-add services like in-house risk management and claims advocacy.

PCF Insurance continues building its M&A pipeline with strategic targets that strengthen its core property and casualty and health and benefits business in key markets and deepen its in-house experience implementing risk management and loss control solutions within growing industries. PCF Insurance is making significant progress in reaching its goal of adding $50 million in EBITDA from M&A by year-end.

About PCF Insurance Services

A top 20 U.S. insurance brokerage headquartered in Lindon, Utah, PCF Insurance Services of the West, LLC offers a broad array of commercial and personal lines, life and health, employee benefits, and workers' compensation insurance solutions. PCF Insurance's operating model and entrepreneurial environment support its tremendous growth profile, offering its businesses alignment through equity ownership, enhanced coverage solutions and capabilities for clients, and shared-services resources. With more than 4,000 employees across the U.S., PCF Insurance is a notable leader in the insurance brokerage space, ranking #19 on Business Insurance's 2024 Top 100 Brokers and #13 on Insurance Journal's 2024 Top Property/Casualty Agencies. Visit pcfins.com for more information.

SOURCE PCF Insurance Services