BrokerageIndustry News

HomeServices of America acquires PCG insurance agency

The move is part of the company's long-term growth goals
  • Warren Buffet's Berkshire Hathaway affiliate HomeServices of America just acquired PCG Agencies, a Midwest-based independent insurance company.
  • The chairman and CEO of HomeServices of America says that the company will continue to expand its insurance operations.

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Today, HomeServices of America announced its acquisition of Midwest personal insurance giant PCG Agencies. As the second-largest full-service residential real estate brokerage firm in the country, HomeServices of America is an affiliate of Warren Buffet's Berkshire Hathaway and has undergone significant expansion in its real estate operations. As reported by Inman, HomeServices of America acquired majority interest in Prudential Real Estate from Brookfield Asset Management in 2013, and later targeted independent brokerages and companies affiliated with other brands for growth. The terms of the company's purchase of PCG were not disclosed upon request, but the news is representative of its future trajectory. "This transaction reinforces our commitment to strategically expanding our insurance business with the ultimate goal of becoming a leading national insurance agency," said Ron Peltier, chairman and CEO of HomeServices of America, in a press release. HomeServ...