PCF Insurance Services (PCF), a full-service insurance brokerage based in Woodland Hills, California, formed 36 new partnerships with insurance agencies in 2020, taking its national network to over 50 agencies with 70 offices, providing a diverse offering of commercial lines, personal lines, and employee benefits products.
Having successfully completed so many deals in the middle of a global pandemic, and with the private equity-backed firm projecting almost double that amount of new partnerships to come in 2021, some might jump (with good reason) to brand PCF as just another “serial acquirer” in the insurance distribution market.
“We are not a command-and-control organization,” said Foy. “We just want to partner with entrepreneurs who have built these fantastic insurance businesses, and we want to take their fuel and replace it with PCF’s rocket fuel. We want to accelerate their growth and give them the power of a big platform, but we also enable them to maintain their independence.
“We’re not going to tell someone how to run their agency just because we’re bigger than them. Rather, the mentality is: ‘We think you’ve done something special. Let us see if we can add to that and help you do it even bigger and faster and better, not only to benefit you but also to benefit all of your employees too.’ I think that strategy and philosophy is really resonating in the market.
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