Cross Insurance acquires Massachusetts firm
File photo / Tim Greenway
Royce Cross, CEO of Cross Insurance, is continuing the insurance company's strategy of making acquisitions whenever and wherever it makes sense.
Cross Insurance, a subsidiary of Cross Financial Corp., acquired Pittsfield, Mass.-based Colt Insurance, an independent agency founded 80 years ago by Samuel Colt, it said Wednesday.
Colt Insurance provides business and personal insurance lines as well as employee benefits.
It is the second recent acquisition Cross has made in Berkshire County, Mass., with the other being Bardwell, Bowlby and Karam, also of Pittsfield.
Colt Insurance will become a wholly owned subsidiary of Cross and will operate under the Colt name. Michelle Orlando, president of Cross Surety, will oversee the operations, while Kelly Collins, former president and owner of Colt Insurance, will serve as executive vice president.
The 14 employees will remain with Colt and other staff may be brought on later.
Terms of the deal were not disclosed.
Cross Insurance, which is based in Bangor, has 35 offices and 700 employees. It has 100,000 customers in New England.
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