US-based insurance intermediary PCF Insurance Services (PCF) is continuing its acquisition spree with Apple Insurance and Financial Services deal.
PCF did not disclose the financial value of the deal.
Florida-based Apple Insurance is an individual health and medicare agency, which provides access to Florida Blue.
PCF stated that the acquired firm’s focus on strategic, national growth and collaboration fits well with its portfolio of agency partners.
PCF Insurance Services chairman, founder, and CEO Peter Foy said: “Apple Insurance is a thriving, high-growth agency. With their proven model for growth and continued value creation, Apple Insurance gives PCF a strong foothold in one of the most competitive individual health care markets in the US.”
Apple Insurance principal Rick Jultak said: “Apple Insurance is a one-stop shop for insurance in the South Florida market with a diverse portfolio of insurance projects. With PCF, we have a clear path to creating valuable strategic partners with other top-tier insurance agencies throughout the country.”
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Last week, PCF bought a family-owned, full-service personal lines agency John E. Peakes Insurance Agency.
The deal is said to have enabled PCF Insurance to expand its portfolio to cover niche markets in the high-growth small business industries, including restaurants, apartment buildings, and gym and fitness.
A week before that, the firm acquired Utah-based A Insurance Agencies, which specialises in life, auto, home and business insurance.
This year, PCF has wrapped up or has under the letter of intent 104 acquisitions.