US-based insurance brokerage firm PCF Insurance Services has acquired San Mateo, California-based full-service insurance agency Andreini & Company.
Financial terms of the deal were not disclosed.
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By GlobalDataFounded in 1951, the acquired entity provides a range of insurance products and solutions with a focus on industry niches including agriculture, aviation, transportation, oil & gas, and equine mortality.
The firm employs more than 200 insurance professionals across its 15 offices spread across the US.
PCF Insurance founder and CEO chairman Peter Foy said: “We are thrilled to welcome Andreini & Company and its team to the PCF family.
“The Andreini team has a notable history and stellar reputation within the industries and geographies it serves and possesses an entrepreneurial mindset that is reflective of their success. They bring a breadth of industry specialisations, such as petroleum and agriculture, that will be beneficial to other agencies in the broad PCF network.”
Utah-headquartered PCF Insurance offers a spectrum of commercial, life and health, employee benefits, and workers’ compensation solutions.
The firm seeks to tie up with successful agency partners with high-growth PCF business strategy and looking to “rise above their current watermark.”
Commenting on the deal, Andreini & Company executive vice-president Michael Colzani said: “PCF and Peter are like us – a people-centric, family company dedicated to supporting our customers while striving for growth.
“We’re confident this partnership will provide a pathway to long-term success through operational resources, new growth opportunities, and a network of knowledgeable colleagues.”
Recently, PCF Insurance took over United Underwriters, a Utah-based property and casualty managing general agent.
