HomeServices of America Inc., a Berkshire Hathaway affiliate, has acquired Minnesota-based PCG Agencies Inc., a large independent personal insurance agency. Terms were not disclosed.
Headquartered in St. Paul, PCG offers 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, will continue to play an integral role in the ongoing success of PCG as a member of the insurance senior management team.
HomeServices is a full-service residential real estate brokerage firm. HomeServices’ insurance operations include multi-line insurance agencies that nationally generated more than $115 million of premium volume in 2015.
Source: HomeServices of America