PK Financial Group LLC, a Pennsylvania-based insurance and benefits company, has acquired the assets of West Insurance Group, one of the largest African-American-owned risk management, brokerage and financial services firms in the U.S.
According to Samuel J. Patterson, CEO, principal owner of PK Financial, the West firm had been established in 1991, maintained offices in Boston, Chicago and Philadelphia, and had managed a portfolio with gross premiums written estimated at $120 million.
Patterson said the West Insurance acquisition will enable PK Financial to significantly expand the company's services to large, privately held and publicly traded corporations, to large not-for-profit firms and to faith-based institutions.
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