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April 9, 2014

Cross Insurance acquires R.I. agency

Bangor-based Cross Insurance has acquired Troy, Pires & Allen Insurance, an agency based in East Providence, R.I., that specializes in personal and business insurance coverage. Terms of the deal, Cross' fourth acquisition this year, were not disclosed.

Royce Cross, CEO of Cross Insurance, said in a statement that the acquisition is "vital" to the company's expansion into Rhode Island. The acquired agency, founded in 1936 in Pawtucket, R.I., also has clients in Massachusetts and Connecticut.

Peter Troy, managing partner with Troy, Pires & Allen, will serve as Cross' head of commercial lines sales.

Earlier this year, Cross acquired Willis of Northern New England, the Stamford, Conn.-based Insurance Exchange and the Norwell, Mass.-based Driscoll Agency.

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Cross Insurance CEO Royce Cross builds on his father's legacy

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