From Yahoo Finance: 2025-06-05 10:28:00

Trucordia receives a $1.3bn investment from Carlyle, valuing the insurance brokerage at $5.7bn. The transaction is expected to conclude this month, providing financial leeway for Trucordia’s initiatives and governance framework. CEO Felix Morgan is optimistic about future growth prospects.

Carlyle’s Credit Opportunities team led the investment, targeting various entities and special situations. Trucordia, based in Lindon, Utah, offers insurance products including commercial, personal, life, and employee benefits. J.P. Morgan advised Trucordia, while Orrick, Herrington & Sutcliffe and Latham & Watkins provided legal counsel.

CEO Felix Morgan sees the partnership with Carlyle as a significant boost to Trucordia’s financial structure and growth strategy. Recent acquisitions and leadership changes add momentum to the company’s transformational growth plan. Trucordia was previously known as PCF Insurance Services before rebranding last year.

Last month, Trucordia acquired Virginia-based Huffman Insurance, expanding its offerings. Carlyle’s investment will reduce Trucordia’s leverage, strengthen its balance sheet, and enhance financial flexibility. The company aims to continue making strategic investments to drive future growth.

Read more: US insurance broker Trucordia secures $1.3bn from Carlyle