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Updated: September 1, 2025 2025 Fact Book: Doing Business in Maine

Lotfey Dennett Insurance Brokers: Celebrating 10 Years of White-Glove Service

PHOTO Courtesy of Lotfey Dennett Insurance Brokers Founding partners Nick Lotfey (left) and Matt Dennett (right)

This year marks a significant milestone for Lotfey Dennett Insurance Brokers as the boutique insurance agency celebrates its 10th anniversary of providing tailored insurance solutions for families and businesses across Maine and throughout the country.

Founded in 2015, Lotfey Dennett began with a clear mission: to deliver white-glove, relationship-driven service in an industry that often feels transactional. A decade later, the firm has grown into a premier boutique agency, serving high-net-worth individuals, middle market residential, and businesses. We provide customized protection for all commercial lines of property & casualty business, homeowners, vehicles, investment properties, and life insurance. Our commercial insurance team has a strong passion for working with and insuring local restaurants, retailers, contractors, professional firms and property owners.

“At Portside Real Estate Group, we’re intentional about who we align with, and Lotfey Dennett has been an outstanding partner from the start. Their team is responsive, relationship-driven, and truly committed to a positive customer experience. You feel that from every member of their team, which is a direct reflection of Nick’s leadership. Whether it’s supporting our brokerage or helping our agents serve their clients, they show up with professionalism and heart. It’s a relationship we genuinely value.”
— Dava Davin, Founder and CEO, Portside Real Estate Group

A premiere boutique agency

The agency was co-founded by Nick Lotfey and Matt Dennett, both seasoned insurance professionals and University of Maine graduates. Nick is a Falmouth native and a 2009 graduate of the University of Maine in Orono and began his career at Liberty Mutual Insurance. Matt is an Augusta native and a 2009 graduate of the University of Maine at Farmington and previously worked at Nationwide Insurance. Both hold the Certified Insurance Counselor (CIC) designation – one of the industry’s most respected credentials – and bring over two decades of combined experience to their work with clients.

“Matt and I were introduced through mutual friends – individuals I had attended college with and whom Matt had grown up with here in Maine,” said Lotfey. “As two young, driven agents early in our careers, we quickly connected over our shared ambition and began collaborating by exchanging referrals and ideas. That professional camaraderie eventually evolved into a partnership rooted in mutual respect and a shared vision for what the insurance experience could look like.”

Delivering the personal touch

The goal from day one was to create a different kind of insurance experience – one that feels personal, proactive, and rooted in trust. Reaching the 10-year mark is a testament to the loyalty of our clients and the dedication of our team.

“From the outset, Matt and I shared a clear vision: to build a modern insurance firm grounded in meaningful relationships, personalized service, and forward-thinking solutions,” Lotfey continued. “We saw an opportunity to break away from the status quo in what is often viewed as a traditional, slow-moving industry. Our goal was to create a firm that clients could trust – one that emphasizes transparency, responsiveness, and tailored support. That guiding philosophy has shaped everything we’ve done since day one and continues to drive us today.”

Over the past decade, the firm has expanded both its team and carrier partnerships, strengthening its offerings with top-tier companies like Acadia Insurance, The Andover Companies, MMG Insurance, Cincinnati Insurance, Patrons Oxford, Patriot Insurance, and over 20 additional leading carriers.

“I’ve been working with Lotfey Dennett Insurance for over 10 years as a small business owner, and I can’t recommend them highly enough! Their expertise, responsiveness, and genuine care for my business have made a real difference. They always go the extra mile to find the right coverage and make insurance feel easy. It’s a partnership I truly value.”
— Krista Cole, Owner and Director of Operations, Sur Lie (Portland, Maine) and Gather Restaurant (Yarmouth, Maine)

Human-centered approach in insurance

But what sets Lotfey Dennett apart is that the firm is not only known for its technical insurance expertise, but also for its commitment to meeting clients where they are – literally – with in-home visits and face-to-face advisory service.

In a time when automation and call centers dominate the insurance landscape, Lotfey Dennett’s human-centered approach has resonated. People still want to know who’s protecting their most valuable assets. We pride ourselves on being that trusted advocate in their corner.

“We believe the tone is set from the top,” said Lotfey. “Matt and I are hands-on leaders who model the level of care and attention we expect across the agency. We’ve built a team that shares our service-first mentality, and we invest heavily in training, communication, and technology to ensure that every client interaction reflects the high standards we’ve established. Whether we’re working with a startup, a growing business, or a first-time homebuyer, our goal is to simplify the insurance process and make our clients feel supported every step of the way. Consistency, accountability, and a deeply personal approach are what set us apart.”

As the agency looks ahead to the next decade, Lotfey Dennett remains focused on sustainable growth, continuing education, and building even deeper relationships within the community. The agency, featuring a team of 13 employees (11 who reside in Maine) that blend industry knowledge with local insight, is committed to remain a cornerstone of New England’s insurance landscape by staying in tune with the latest insurance issues that present challenges for Mainers now and in the coming years.

Over the past five years, the industry has been navigating a perfect storm of challenges – from inflation and rising construction costs to the increasing frequency and severity of weather-related events. These pressures have led to major changes in coverage availability, underwriting guidelines, and premium pricing. This means insurance is becoming more complex – and more critical – than ever.

“Our role as advisors is to help clients stay informed, anticipate change, and build smart, resilient insurance strategies in the face of a shifting landscape,” Lotfey said.

“Looking ahead, our goal is to continue growing Lotfey Dennett into one of the premier middle-market insurance agencies in the Northeast. We’re focused on expanding our reach across Maine and New England, while deepening relationships with our existing clients and carrier partners. Equally important, we’re committed to maintaining the core values that got us here – personal service, expert guidance, and a relentless focus on doing what’s best for our clients. As their needs evolve, so will we.”

PHOTO Courtesy of Lotfey Dennett Insurance Brokers
Lotfey Dennet staff

Trusted Partnerships That Add Value

A key driver of Lotfey Dennett’s success over the past decade has been the agency’s collaborative approach to building strong professional relationships with trusted advisors across industries. The agency regularly works alongside real estate professionals, mortgage lenders, financial advisors, and attorneys to help protect what matters most to their clients – whether it’s a primary residence, seasonal home, investment property, vehicle, or a business startup or growing business.

“These partnerships allow us to offer a truly seamless client experience,” said Lotfey. “When someone is buying a home, launching a business, or planning for their family’s financial future, insurance is a critical piece of the puzzle. By working closely with their trusted advisors, we can step in early, provide education, and craft thoughtful insurance solutions that align with their overall goals.”

Lotfey Dennett is particularly focused on deepening its work with financial advisors – consulting not just on property and casualty risks, but also providing life insurance solutions that support long-term financial planning, business succession, and estate strategies.

“Life insurance is often overlooked or misunderstood, but it plays an essential role in protecting wealth and supporting generational planning,” said Lotfey. “Financial advisors are in a great position to identify those needs, and we’re here as a resource to help structure the right coverage – whether it’s term life, whole life, or advanced solutions like key person and buy-sell agreements.”

By serving as a consultative partner to these professionals, Lotfey Dennett helps bring clarity to complex insurance decisions and ensures that clients receive advice that is not only accurate, but also aligned with their broader financial and personal objectives.

Mission statement:

At Lotfey Dennett Insurance Brokers, our mission is simple: to provide a true concierge client experience that sets us apart in the insurance industry. We are dedicated to insuring families and businesses across Maine, while proudly extending our services to clients throughout the U.S. By offering personalized guidance and access to top-rated national and regional carriers, we empower our clients with the freedom of choice and the confidence of trusted protection.

Lotfey Dennett Insurance Brokers

500 Washington Ave., 3rd Floor, Portland, ME 04103

Sector: Insurance Agency

Nick Lotfey and Matt Dennett, Founding Partners

Founded: April 2015

Employees: 11 Maine employees and 2 out of state employees

www.ldibrokers.com