Our proprietary listing of purchases and gross sales of insurance coverage companies in New England
Primarily based on our proprietary knowledge for Q2-2024, the next is a listing of insurance coverage company acquisitions in Massachusetts. Whereas M&A Exercise throughout Q1-2024 remained comparatively lively, Q2-2024 has seen an enormous slowdown compared to previous years.
- Whereas there have been a complete of seven insurance coverage company mergers and acquisitions introduced in New England through the first quarter of 2024, solely three have been introduced throughout Q2-2024.
- Q2-2023 noticed 9 company acquisitions, three every month, versus Q2-2024, which had a complete of three: one for April, two for Could, and no reported transactions throughout June.
- Wanting on the first half of 2024, there have been a grand complete of 10 transactions with January having been the busiest month and June the slowest.
Businesses Bought in 2024
The next is a listing of the transactions featured in Company Checklists through the first quarter of 2024 (Q1-2024). As all the time, if you realize of a sale of an insurance coverage company not listed right here, whether or not in Massachusetts or one of many New England states, please let us know to help keep this list as accurate as possible.
Please notice, any title with an * implies that the replace was despatched to us however was not an formally introduced transaction on which we reported.
January 2024 (Q1)
MountainOne Insurance Expands To Stockbridge, MA
Arthur J. Gallagher & Co. Acquires The Rowley Agency, LLC
Patriot Growth & FBinsure Acquire Rhode Island Insurance Group
Lowell’s Byam Bros-Mahoney Agency Joins Duffy Insurance
February 2024 (Q1)
Deland, Gibson Insurance Agency Acquires Austin Chandler Insurance
MountainOne Insurance Acquires G. W. Morisi Insurance Agency
March 2024 (Q1)
Kaplansky Welcomes WT Flynn Insurance Of Framingham To Its Ranks
April 2024 (Q2)
Kaplansky Insurance ‘Strikes Gold’ With Latest Agency Acquisition
Could 2024 (Q2)
King Insurance Partners Announces Acquisition Of Marcus Insurance (Connecticut)
June 2024 (Q2)
No transactions reported this month
Businesses Bought in 2023
For comparability functions, the next is a listing of the insurance coverage company acquisitions from final yr.
January 2023 (Q1)
Patriot Growth Insurance Grows New England Presence With RI Partnership
Hilb Group Expands in RI With OceanPoint Insurance Acquisition
February 2023 (Q1)
Bearce Insurance Agency Joins World Insurance Associates
Duffy Insurance Agency Acquires B&M Insurance Agency In Wakefield
Kaplansky Insurance Acquires Bridge Insurance
New Bedford’s Tomlinson & O’Neil Joins World Insurance Associates
March 2023 (Q1)
Aronson Insurance Acquires LJM Insurance Agency
Salem Five Insurance Acquires Nichols Insurance Agency Inc.
World Picks Up Another Two Agencies In New England
April 2023 (Q2)
World Welcomes Worcester’s Thomas J. Woods Insurance Agency
Sabatino Insurance Agency Acquires The Mastrocola Insurance Agency
Hilb Group Grows New England Property And Casualty Presence
Could 2023 (Q2-2023)
Duffy Insurance Agency Acquires Boyd-Neelon Insurance Agency Of Sudbury Mass
Patriot Growth Insurance Services Expands Its Network In Massachusetts
Kaplansky Insurance Acquires Seekonk’s Crosstown Insurance
June 2023 (Q2-2023)
Wm F. Borhek & B. R. Alexander Agencies Join World Insurance Associates
BayCoast Insurance Announces Its Acquisition Of E.P. Tremblay And Sons Insurance Agency, Inc.
Cross Insurance Acquires The North Shore’s Daly Insurance
July 2023 (Q3-2023)
Smith Brothers Advances Massachusetts Growth with Rawson & Sons Acquisition
Beverly Merger: Sterling Ins. Buys The Morgan-McPherson Agency
August 2023 (Q3-2023)
Hub New England Welcomes Worcester’s Horizon Insurance
Cross Acquires Greenberg, Rhein & Margolis, Inc. – Connecticut*
September 2023 (Q3-2023)
Gallagher Snaps Up Eastern In Sale Worth 5-Times Commissions
Salem Five Insurance Acquires Philbin Insurance Group
Cross Acquires The Russell D. Patten Insurance coverage Company, LLC of Maine*
Cross Acquires Costello New Hampshire Insurance coverage Company, Inc.*
October 2023 (This autumn-2023)
Alden C. Goodnow Insurance Agency Acquires Inlign Insurance
Another North Shore Agency Acquisition For Duffy Insurance
Cross Insurance coverage Acquires Advocate Brokerage of New York*
November 2023 (This autumn-2023)
Cross Insurance coverage Acquires Massachusetts’ Sculos & Santilli Insurance coverage Company, Inc.*
Growth Continues At Duffy Insurance With Addition Of The DeAngelis Trinity Insurance Agency
Archetype Acquisition Is The 43rd For Kaplansky Insurance
December 2023 (This autumn-2023)
Cross Insurance coverage Acquires the Paul Insurance coverage Company in Massachusetts*
IMA Financial Group Expands In Mass. With EBS Insurance Brokers Purchase
New England’s Foy Insurance Joins World Insurance Associates
Patriot Growth Insurance Services Expands Footprint In New England Region
For these all in favour of looking on the nationwide traits in insurance coverage company mergers and acquisition exercise, please seek advice from our companion piece entitled, “Q4-2023 Results Bodes Well For 2024 Agency Sales Activity.“
