American insurance brokerage firm PCF Insurance Services has snapped up TCU Insurance Agency to expand its reach and service offerings in the Midwest.
The acquired firm, which is subsidiary of Teachers Credit Union (TCU), offers insurance solutions for home, rentals, auto, motorcycle, senior health care, business and life in Michigan and Indiana.
Go deeper with GlobalData
The companies did not divulge financial and other terms of the agreement.
Commenting on the deal, PCF Insurance chairman, founder and CEO Peter Foy said: “TCU Insurance is an important addition to the PCF agency network, expanding our reach and service offerings in the Midwest.
“PCF’s model is built around an ability to tap into our network of industry experience in a way that will allow each of our agencies to continue leading and expanding their respective capacities and product lines.”
The deal will enable TCU Insurance Agency to leverage PCF Insurance’s bench strength and its market relationships, Agency Partners, to offer its customers enhanced coverage offerings.
The deal will also allow TCU Insurance Agency to offer “more competitive pricing, and innovative solutions for protection against even the most unique risks,” according to PCF Insurance.
TCU Insurance Agency president Rick Van Es said: “TCU Insurance is excited to become a part of PCF. We can now offer our clients enhanced insurance options and risk management solutions, all while staying true to the personal service that has been our hallmark for the past 21 years.”
