PCF Insurance acquires Florida-based agency

Lehi-based insurance brokerage firm PCF Insurance Services has acquired Allied Marketing Insurance Group, a Miami, Florida-based health and benefits agency serving Florida’s underserved multicultural community of agents and clients. Allied serves more than 100,000 clients with Florida Blue, an independent licensee of the Blue Cross and Blue Shield Association.

“PCF Insurance’s strategic blueprint centers on offering a national reach of solutions through local service built on trusted relationships, which is why we are{mprestriction ids="1,3"} excited to welcome Allied Marketing Insurance Group to the PCF family,” said Peter C. Foy, founder, chairman and CEO of PCF Insurance. “Allied shares our commitment to cultivating strong, local relationships and offering a flexible service model to best meet the needs of clients. This addition further strengthens our capacity to serve Florida families and individuals with health insurance and Medicare coverage.”

The addition of Allied, along with its previous acquisition of Covenant Assurance in New Jersey, aligns with PCF Insurance’s value-accretive growth strategy, the company said. PCF recently announced $400 million in financing to further fund the company’s expansion through mergers and acquisitions.{/mprestriction}