Montalvo offers an array of personal and commercial insurance products. Credit: Atstock Productions/Shutterstock.

PCF Insurance Services, a US-based insurance brokerage, has expanded its portfolio with the acquisition of Montalvo Insurance Agency, a Texas-based insurance provider, for an undisclosed sum.

This move is aimed at bolstering PCF Insurance’s offerings in the public entity sector.  

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Montalvo offers an array of personal and commercial insurance products including homeowners, auto, liability coverages and workers’ compensation, in addition to bonds. 

Through its strategy of acquisitional growth, PCF Insurance is aligning with businesses that share a vision for expansion and leveraging collective expertise.  

According to PCF Insurance, partnerships allow businesses to maintain their local client and community ties while accessing solutions for diverse risk profiles. 

Clients of Montalvo are set to gain from the merger, with expectations of enhanced coverage options, more competitive pricing and broader market access, noted PCF Insurance.   

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Additionally, the Montalvo team is expected to benefit from economies of scale by integrating PCF Insurance’s support services in various back-office functions. 

In April this year, PCF Insurance closed a $400m incremental debt funding round. 

The company has accelerated its growth initiatives this year, prioritising mergers and acquisitions (M&A) and growth through organic means. This fundraise, which was led by Blue Owl, will facilitate its M&A activities.  

In a recent spree of growth, PCF Insurance incorporated four new insurance businesses into its fold last month.  

These businesses are Ignitist from Pennsylvania, the Brady Agency from North Carolina, Roseberry Insurance Agency from Mississippi and the Sinnott Agency from Iowa.