With over a hundred acquisitions completed and/or under letter of intent for the year, PCF Insurance Services continues its aggressive growth with the purchase of the national program administrator Lawrence Victoria Inc.
The terms of the deal were not disclosed.
Based in Solon, OH, Lawrence Victoria offers fully customizable lender-placed insurance solutions to banks, thrifts, credit unions, mortgage loan servicers and investors. It operates nationally and serves organizations of all sizes all throughout the US.
"Lawrence Victoria is our first partner in the lender-placed insurance space," said PCF Insurance founder, chairman, and CEO Peter C. Foy. "Since no two servicers' needs are identical, Lawrence Victoria provides customizable solutions for their clients. Adding their tailored approach and niche product line to PCF's diverse portfolio will generate excellent opportunities to bring value to loan-servicer clients across our Agency Partner network."
"I've visualized continued growth while innovating our solutions, so clients view us as their number one vendor,” added Lawrence Victoria principal Jamey Lawrence. “As a PCF Agency Partner, we now have the resources to make that happen while continuing to service clients from our Solon, Ohio office."
"We're so pleased to continue our family's 45-year legacy as a partner with PCF Insurance," commented Lawrence Victoria principal Brett Lawrence. "We have a unified commitment to transparency while providing high-quality specialized programs, cutting-edge technology, and white-glove service."
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The acquisition of Lawrence Victoria is the latest in PCF’s ever-growing list. Last week, the company acquired 1 Source Business Solutions, a professional employer organization (PEO) specializing in employee benefits, payroll administration, HR compliance and consulting, and workers’ compensation administration. The week before that, PCF acquired Peak Performance Team, a niche finance & insurance broker based in South Carolina offering bespoke packages to auto dealerships across the US.