Cross Insurance buys large Mass. firm
Cross Insurance in Bangor has acquired a Massachusetts firm that it said was one of the largest independent insurance providers in New England.
Cross announced Tuesday that it purchased Corcoran & Havlin Insurance Group, a Wellesley, Mass.-based firm that was founded in 1967 and has "grown dramatically." Corcoran & Havlin also has offices in Medfield and Duxbury.
Financial terms of the deal are not being disclosed.
Corcoran & Havlin's owners, Jack Keefe and George Doherty, will continue to lead the insurance provider, the announcement said. The company's approximately 55 employees are also staying on board, Cross spokesman Ira Kantor told Mainebiz.
“Jack and George have built a first-class organization and have a knowledgeable and dedicated staff supporting them,” Cross Insurance CEO Royce Cross said in a prepared statement. “We are extremely pleased that they have agreed to join our organization and we look forward to having them as part of our leadership team.”
Keefe, Corcoran & Havlin's president, and Doherty, the company's executive vice president, also expressed optimism with the acquisition.
“We are delighted to join forces with Cross Insurance,” Keefe said. “We believe this partnership will only enhance the products and services we can offer our current and potential customers.”
The latest acquisition adds to Cross's growing network of offices. Since it was founded in 1954, the insurance provider has acquired more than 100 agencies in New England and now employs 700 people across the region and in Florida.
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