Trucordia is a national insurance brokerage headquartered in Lindon, Utah, built through a strategy of acquiring and integrating independent agencies across the country. The company traces its roots to 1987 and spent years operating as PCF Insurance Services before adopting its current name in 2024. It now ranks among the largest brokers in the United States, offering commercial, personal, and employee benefits coverage through a network of more than 200 offices.
Website: trucordia.com
Head office address: 2745 W 600 North, Suite 500, Lindon, Utah 84042
Founded: 1987
Founder: Peter C. Foy
Company type: private; backed by Carlyle, Blue Owl Capital, HGGC, and Crescent Capital
Business focus: commercial insurance, personal insurance, employee benefits, and specialty risk programs
Regions served: all 50 US states and Washington, DC
The company began as an agency founded by Peter C. Foy and grew for decades before entering an aggressive acquisition phase under the PCF Insurance Services name. A rebrand in 2024 marked the firm’s shift into its current identity. Key milestones include:
The 2024 rebrand reset the pace of the firm’s growth. Trucordia narrowed to 22 transactions in 2024, down from nearly 100 in 2022, to focus on integrating the businesses it already owned.
Trucordia operates through independent local agencies that share carrier relationships, technology, and back-office support across the network. Core offerings include:
Clients typically keep their local agents and advisors after an acquisition, and they gain access to the broader carrier network and resources the brokerage brings to the table.
The firm’s growth strategy relies on private equity capital and a buy-and-integrate model, rather than organic expansion alone. Backing from Carlyle, Blue Owl Capital, HGGC, and Crescent Capital has funded acquisitions across commercial lines, personal lines, and benefits distribution.
The 2025 recapitalization valued the company at $5.7 billion. It also gave Trucordia room to refinance debt and slow its pace of dealmaking in favor of integration. The company continues to expand geographically, with recent deals adding agencies across the Northeast, Southeast, and Southwest.
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