Strategic Growth in Insurance Brokerage: Trucordia's Expansions
As consolidation reshapes the U.S. insurance brokerage sector, firms are sharpening their growth strategies. Utah-based brokerage Trucordia exemplifies this trend through strategic expansion, leveraging geographic growth, niche commercial expertise, and a focus on leadership and cultural integration.
Strategic Expansion Through Acquisitions
In the last two months of 2025, Trucordia expanded by partnering with eight firms, continuing this trend into 2026 with more acquisitions underway. "What you saw from us at the end of 2025, you'll continue to see in 2026," stated Rocky Steele, senior vice president of business development. He emphasized managing risks associated with integration while capitalizing on the firm’s M&A experience.
Leadership and Cultural Alignment
Trucordia bolstered its M&A team by hiring industry veterans, including former Gallagher executives. While actively consolidating, Steele stressed that acquisition volume is not the objective. The firm rigorously evaluates potential deals, rejecting those not aligning with strategic criteria focused on leadership and cultural alignment.
"Leadership is at the top of the list," Steele explained to Insurance Business, emphasizing the search for leaders committed to advancing the firm. Cultural alignment is crucial, as prioritizing client care and teamwork leads to positive outcomes.
Integration and Operational Growth
Trucordia’s integration strategy, overseen by CEO Felix Morgan, aims to maintain unique characteristics and local service focuses of acquired agencies while adding scale, resources, and operational support. Successful integration enhances client service and strengthens the firm.
Product and Geographic Priorities
Trucordia’s acquisition approach is guided by product and geographic considerations. Niche commercial insurance is prioritized for its market value. "We believe the market values agencies strong in niche commercial," Steele noted.
Geographically, expansion targets markets with robust economic and demographic growth, offering natural advantages for well-positioned agencies. The firm recently acquired Florida Insurance in Dunedin, recognized for strong service ethos and growth in a complex market.
Florida Expansion and Shared Values
Florida is a key state for national brokerages due to its population growth and challenging insurance landscape. This acquisition strengthens Trucordia’s carrier relationships and existing presence in Florida. Steele emphasized the importance of shared values in partnerships: "Anyone can write a check. The question is what you build together after the transaction."