Private equity-backed brokerage PCF Insurance Services LLC expects to nearly double its rate of acquisitions in 2021, potentially making it one of the top acquirers of insurance agents and brokerages for the year, its senior executives say.
“We’ve bought $1 million (revenue) agencies to $15 million agencies and everything in between,” Peter Foy, chairman and CEO of PCF, who formed the company’s founding agency in 1987, said in an interview Friday.
According to data from Optis Partners LLC, PCF was the sixth most active brokerage acquirer in 2020. The most active acquirer was Acrisure LLC with 108 deals, followed by Hub International Ltd. with 64 deals. Prices paid for insurance brokers and agents remain at historical highs.
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