Trucordia

Trucordia is a privately held, leading U.S. insurance brokerage headquartered in Lindon, Utah. Founded in 1987, the company rebranded from PCF Insurance Services in October 2024, with its new name combining "trust" and "accord" to reflect its core values of integrity, harmony, and collaboration. Trucordia's mission is to deliver exceptional opportunities and experiences for its clients, partners, and employees, focusing on deep relationships and shared success.

The company provides a comprehensive suite of risk management and insurance solutions, including commercial and personal lines, life and health coverage, employee benefits, and workers' compensation. Trucordia also offers specialty risk insurance programs tailored for various industries such as agriculture, financial institutions, healthcare, manufacturing, real estate, and transportation. With a nationwide team of over 5,000 professionals, Trucordia serves individuals, small to mid-sized businesses, and diverse market segments across the United States.

Led by CEO Felix Morgan, Trucordia is recognized as a top 20 U.S. insurance brokerage, ranking #18 on Business Insurance's 2025 Top 100 Brokers and #16 on Insurance Journal's 2025 Top Property/Casualty Agencies. The company maintains an active acquisition strategy, expanding its national network and enhancing its offerings. Backed by private equity firms including HGGC, Carlyle, Blue Owl, and Crescent Capital, Trucordia achieved a valuation of $5.7 billion following a Carlyle investment in June 2025.

Latest updates

Trucordia Bolsters New England Footprint with Paradiso Insurance Acquisition

Event summary

  • Trucordia, a top 20 U.S. insurance brokerage, acquired Paradiso Financial and Insurance Services, based in Stafford Springs, Connecticut.
  • Paradiso Insurance specializes in serving families, individuals, and business owners across Connecticut and the New England region.
  • Trucordia's acquisition strategy remains active, targeting companies aligned with its mission to achieve scale.
  • Paradiso operates under a 'Paradiso Promise' focused on client-centric service and simplifying insurance decisions.

The big picture

Trucordia's acquisition of Paradiso underscores the ongoing trend of consolidation within the insurance brokerage industry, as larger players seek to expand their geographic reach and service offerings. This acquisition allows Trucordia to strengthen its presence in the New England market, a region known for its distinct client needs and competitive landscape. The deal also highlights a strategic focus on acquiring firms with strong local reputations and a commitment to personalized service, a differentiator in an increasingly commoditized market.

What we're watching

Integration Risk
The success of this acquisition hinges on Trucordia’s ability to integrate Paradiso’s local expertise and client-first approach without diluting its core values, a challenge given Trucordia’s size and national scope.
Acquisition Pace
Trucordia’s stated commitment to an ‘active’ acquisition strategy suggests further consolidation activity is likely, potentially straining integration resources and capital allocation.
Client Retention
Paradiso's client base will be key to the acquisition's value; monitoring retention rates post-acquisition will indicate the effectiveness of Trucordia’s integration and communication efforts.

Trucordia Bolsters M&A Team with Gallagher Veteran

Event summary

  • Trucordia, a top 20 U.S. insurance brokerage, hired Shelley Rathsam as Vice President of M&A.
  • Rathsam previously led M&A sourcing and deal execution at Arthur J. Gallagher for nearly five years, covering U.S., Western Canada, Australia, and New Zealand.
  • Rathsam brings 25 years of experience in sales and leadership across healthcare, executive search, and insurance.
  • Trucordia ranked #18 on Business Insurance's 2025 Top 100 Brokers and #16 on Insurance Journal's 2025 Top Property/Casualty Agencies.

The big picture

Trucordia’s aggressive growth strategy, evidenced by its recent M&A activity and this executive hire, reflects the ongoing consolidation within the U.S. insurance brokerage industry. The brokerage landscape is characterized by intense competition for independent agencies and a desire to expand geographic reach and service offerings. Rathsam’s expertise will be crucial in navigating the complexities of deal sourcing, execution, and integration in this environment.

What we're watching

Deal Flow
Rathsam’s experience in international markets suggests Trucordia may broaden its M&A search beyond North America, potentially increasing deal complexity and due diligence requirements.
Integration Risk
The success of Trucordia’s growth strategy hinges on its ability to effectively integrate acquired businesses, and Rathsam’s focus on a ‘thoughtful’ process will be a key indicator of this capability.
Competitive Landscape
The hiring of a seasoned M&A executive from a direct competitor like Gallagher signals an escalation in the battle for market share within the insurance brokerage sector.
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