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July 14, 2022

PCF Insurance Services snaps up Andreini & Company

US-based insurance brokerage firm PCF Insurance Services has acquired San Mateo, California-based full-service insurance agency Andreini & Company.

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Financial terms of the deal were not disclosed.

Founded 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.

Free Whitepaper
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Disruptive start-ups to watch out for

2021 was a record-breaking year, with more businesses breaking into the billion-dollar club. Many start-ups have achieved or retained the unicorn status by the end of the year to reflect nearly a fivefold growth from that in 2020. This boom can be linked to a financing frenzy spurred by the quick adoption of technology and innovative solutions by start-ups gaining traction in response to the pandemic. However, the start-up ecosystem is now facing turbulent times for fundraising as investors seek long-term business strategies, valuations, and a route to profitability amid uncertain market circumstances. Nevertheless, 2022 has the potential to carry forward the momentum with multiple entities having a fair chance of being in the right place when aided by the right technologies. GlobalData leverages the power of alternative data to examine the health of start-ups across multiple dimensions including the quality of their innovations, market presence, and the funding they can attract. This helps our clients to analyze the disruptive potential of start-ups for early alliances, investments, and acquisition prospects to develop future-proof strategic roadmaps for a competitive advantage. Read our report and gather insights on the following topics:
  • Recent Unicorn trends
  • Unicorns in 2022
  • Future Unicorns
  • Start-ups to watch out for
Start-up ecosystem outlook by top geographies
by GlobalData
Enter your details here to receive your free Whitepaper.

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