PCF Insurance Services (PCF) of Salt Lake City has merged with Trade Risk Guaranty Brokerage Services (TRG), based in Bozeman, Montana.
“PCF’s investment in this strategic partnership will enable TRG opportunities for cross-selling by offering its unique vertical of benefits and other P&C lines to other agencies and its existing clients throughout the United States,” a PCF release said. “[TRG founders John and Laura Michel] achieved incredible success building TRG into one of the premier U.S. custom bonds and ocean marine cargo insurance brokerages nationwide.”
Prior to starting TRG, John Michel served as a national underwriter for one of the largest custom bond companies in the U.S. With over 30 years of experience in the insurance industry, the Michels will continue to lead all operations of TRG while becoming owners and partners of PCF Insurance Services.
“TRG has great experience and longevity within the industry, as well as a rapidly growing niche with U.S. custom bonds and ocean marine cargo insurance, an area we’re thrilled to expand upon,” said Peter Foy, chairman, CEO and founder of PCF Insurance Services.
“It’s incredible to now be aligned with PCF and its network,” said John Michel. “PCF’s commitment to our legacy and the success of our staff is what made our decision so easy.”
“Joining forces with PCF just means being a part of a larger network with access to greater resources,” added Laura Michel. “The unwavering commitment to our autonomy is huge.”
PCF will bring added infrastructure and operational support to TRG through its Shared Services team, Foy said. This team of experts offers tailored support in the areas of finance and accounting, human resources, information systems, carrier relations, communication and marketing and growth operations, he added.
PCF made 36 acquisitions in 2020 and now has more than 60 insurance agencies across the U.S., making it one of the 50 largest insurance brokerages in the country by revenue volume.