Berkshire Hathaway affiliate acquires Minnesota agency

The large independent agency specializes in personal insurance, and generated nearly $30M in annual premiums last year

Insurance News

By Lyle Adriano

HomeServices of America, a subsidiary of Berkshire Hathaway and parent company of Edina Realty, has acquired PCG Agencies—a premier independent personal insurance company based in St. Paul.

Terms of the deal were not disclosed.

"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," said HomeServices chairman and CEO Ron Peltier.

Following PCG’s acquisition, founder Bruce Humphrey is now chief executive.

"[The acquisition] provides us with a unique opportunity for growth and further positions us to deliver unparalleled products and services to our new and existing clients," Humphrey said of the deal.

In 2015, PCG Agencies sold approximately $30 million worth of homeowners, auto and other kinds of property and casualty insurance.

Both companies are familiar with each other, having collaborated through local partnerships between HomeServices affiliates and boutique offices offering PCG products. Thanks to the deal, HomeServices will be able to expand those offerings on a national scale.

PCG, according to Peltier, could consider adding staff to aid its growth.
 

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