"I've been incredibly blessed in my career"

“I’ve been incredibly blessed in my career” | Insurance Business America

Insurance News

“I’ve been incredibly blessed in my career”

IBAW Hall of Famer reflects on success

Insurance News

By
Ryan Smith

The founder, chairman and former CEO of PCF Insurance Services, Peter C. Foy (pictured above) has enjoyed a long career in the insurance sector.

Foy’s deep industry experience and leadership of PCF Insurance Services over nearly four decades have landed him a spot in Insurance Business America’s Hall of Fame.

Foy started the firm in 1987 as Peter C. Foy & Associates and quickly grew it to become one of the largest insurance agencies in the greater Los Angeles area. In 2017, the firm became PCF Insurance Services as it began to acquire other agencies and expand nationally.

By 2023, the firm had grown to more than 3,500 employees and was valued at $4.7 billion.

“I quickly surrounded myself with like-minded entrepreneurs who had other areas of focus, and our collective portfolio of insurance and risk management offerings widened to a point where we can proudly say that there is likely not a risk we can’t cover,” Foy told IBA.

PCF Insurance posts annual revenues of more than $700 million – and Foy said the firm was set to grow even more.

“I’ve been incredibly blessed in my career, celebrating many significant achievements and milestones on my journey,” he said. “I have an entrepreneurial mindset – always building, always innovating, and always learning – but at the end of the day, I truly believe that I have yet to accomplish the biggest achievement of my career.

Many industry leaders doubted that PCF’s business model would work – a doubt that has proved unfounded as the company has grown.

“This vision to build PCF Insurance was my own, and not many of my peers have been similarly blessed,” Foy said. “Perhaps they were CEO or president of their organization – and rightfully so, many are incredible leaders – but only a few can say that they were able to see their built-from-scratch dread come to fruition like I have. I’ve been fortunate enough to have had great people invest in me and my vision for PCF Insurance, and are continuing to do so.”

IBA identified this year’s Hall of Fame inductees by inviting insurance professionals across the country to nominate industry standouts. Nominees had to have been in the insurance industry for at least 35 years.

Winners were selected by an independent advisory panel and previous Hall of Fame honorees. The panel considered nominees’ service to the industry, the leadership and inspiration they provided, their role in guiding future generations in the sector, and more.

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