Minneapolis, Minn. (March 14, 2016) – HomeServices of America, Inc., a Berkshire Hathaway affiliate, today announced the acquisition of Minnesota-based PCG Agencies, Inc, one of the largest independent personal insurance agencies in the Midwest. Terms were not disclosed.
Headquartered in St. Paul, PCG offers its clients a broad spectrum of personal property and casualty insurance products as well as risk management services. Originally founded in 1982, PCG generated nearly $30 million of annual premiums in 2015. Bruce Humphrey, founder and chief executive officer is an industry veteran known for his expertise and his commitment to providing his clients with the highest level of customer services. Humphrey will continue to play an integral role in the ongoing success of PCG as a member of the insurance senior management team.
HomeServices is the second-largest, full-service residential real estate brokerage firm and through its operating companies, is one of the largest brokerage-owned settlement services providers in the U.S. HomeServices’ insurance operations include multi-line insurance agencies representing top-rated national and regional carriers who serve their clients with advanced technology, streamlined processes and competitive pricing. Together these companies serve customers from coast-to-coast and generated more than $115 million of premium volume in 2015.
“This transaction reinforces our commitment to strategically expanding our insurance business with the ultimate goal of becoming a leading national insurance agency.” said Ron Peltier, chairman and CEO of HomeServices of America. “The acquisition of PCG aligns with our growth strategy of identifying market leading companies that share our vision of delivering an unparalleled customer experience throughout the home transaction process.”
“We are proud to be part of HomeServices of America,” said Humphrey. “Joining the HomeServices network of companies provides us with a unique opportunity for growth and further positions us to deliver unparalleled products and services to our new and existing clients.”
“This is an important transaction to HomeServices and we are looking forward to having Bruce and his team join the HomeServices family,” concluded Peltier.