US insurance coverage brokerage PCF Insurance coverage Companies has expanded its nationwide footprint with the acquisition of MK Insurance coverage Group’s insurance coverage enterprise, a family-owned business and private insurance coverage company.
Monetary phrases of the transaction weren’t divulged.
Based mostly in Hoover, Alabama, MK Insurance coverage Group focuses on high-net-worth private strains and has a long-standing historical past of offering options to the business actual property and development sectors in addition to the signage business.
The acquisition marks PCF’s entry into the US state of Alabama.
MK Insurance coverage Group will leverage its partnership with PCF to carry extra worth to its clients by means of elevated entry to skilled advisors, and superior infrastructure and know-how.
Utah-based PCF can even equip MK Insurance coverage Group with new applied sciences that may assist streamline the latter’s enterprise transactions.
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Moreover, PCF mentioned its in-house threat administration professionals and business claims advocacy group are set to bolster MK Insurance coverage Group’s choices by creating customised loss management programmes that may probably cut back dangers and insurance coverage premiums.
The partnership can even permit MK Insurance coverage to faucet PCF’s sturdy provider relationships, enabling the availability of cheaper protection options.
MK Insurance coverage Group principal Greg Mikos mentioned: “We’re desperate to leverage the deep expertise of the PCF crew to speed up our enterprise development and supply our shoppers with higher protection options, extra aggressive pricing, and elevated market entry.”
PCF Insurance coverage chief improvement officer Brooke DeWyze mentioned: “PCF is concentrated on intentional, strategic development with companies like MK that complement our deep bench energy, increase our material experience on business verticals and have a strong observe report that can improve our main place inside the business.”
Final 12 months, PCF Insurance coverage signed an enterprise cope with Vertafore, an insurance coverage know-how supplier, to expedite its development.
