US-based intermediary PCF Insurance Services has acquired the insurance operations of Kentucky Health Solutions for an undisclosed sum.
Lexington, Kentucky-based Kentucky Health Solutions’ portfolio includes health and life insurance coverage solutions.
It will complement PCF Insurance-backed Maverick Insurance Group’s existing property and casualty insurance solutions.
The Kentucky Health Solutions team will integrate with Louisville-based Maverick, leveraging geographic proximity to strengthen its presence in the region.
This partnership is expected to deliver expanded local service offerings and add value to clients across the Bluegrass state and beyond.
Its expertise as an advisor for medicare clients is also expected to enhance the senior benefits coverage solutions provided by PCF Insurance.
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By GlobalDataPCF Insurance CEO Felix Morgan said: “Our acquisition of the Kentucky Health Solutions team speaks to our strategic focus on expanding our footprint in key markets with insurance businesses that deepen our bench strength across our industry verticals.
“We want to ensure that every business we bring on has a long runway for growth ahead of them. By intentionally focusing on these types of transactions, we are setting the stage for our long-term profitability.”
With 14 acquisitions already completed in 2024, PCF Insurance is actively pursuing its M&A strategy.
The company is focused on acquiring insurance businesses that can provide expanded coverage solutions, competitive pricing, and additional services such as in-house risk management and claims advocacy.
PCF Insurance aims to increase its earnings before interest, taxes, depreciation and amortisation (EBITDA) by $50m through M&A by year-end and double in size within the next five years.
The recent acquisition spree includes the takeover of 360 Insurance, a company with a 75-year history and a broad licence to operate across the US.
360 Insurance’s offerings in auto, home, commercial and life insurance have served both personal and business clients.
Earlier in the month, PCF Insurance also acquired DLD Insurance Brokers, known for managing risks in construction and technology sectors, and Montalvo Insurance Agency in Texas.