The Eastern Insurance Group, LLC, currently the largest independent insurance agency in Massachusetts, has added to its growing roster of acquisitions.
This month, the Natick-based agency officially acquired the assets of the John E. Patterson Insurance Agency, Inc., a full-service independently owned insurance agency located in Westwood. The acquisition of the Patterson Agency marks Eastern Insurance’s 25th acquisition since becoming a subsidiary of Eastern Bank Corp. in 2002.
“We are excited to welcome the Patterson Insurance Agency employees and customers to the Eastern Insurance family,” said Aldrich. “Similar to so many of our previous partnerships, the Patterson Insurance Agency is a perfect cultural fit for our organization.”
According to the terms of the transaction, Patterson’s staff, including its president, John M. Patterson, have joined the Eastern team as of August 1st, with Mr. Patterson becoming a Vice President in Sales.
As for the former Patterson Agency location, it will be re-branded as an Eastern Insurance location over the next three to four months. Plans include expanding the staff and office as this newest Eastern branch grows.
“We are proud of what we have built in providing the best property and casualty insurance programs for the people and businesses of Westwood and Norfolk County,” said John M. Patterson. “We believe that the choice of Eastern Insurance will serve our clients and employees extremely well with its ability to provide elevated resources and services.”
The newly combined agencies will now be able to offer new Eastern Insurance customers broader access and choice to a wide range of insurance services and capabilities added Ms. Aldrich. It was also the perfect fit as part of Eastern Insurance’s current plan to expand its presence in both Westwood and the Route 128 corridor.
“Westwood expands our existing customer footprint, making this an attractive opportunity to partner with a successful agency with an excellent reputation in the community,” said Aldrich.
Serving Westwood for more than 50 years
The John E. Patterson Insurance Agency has been an independent insurance agency in Westwood since 1947. The full service insurance agency has been servicing the needs of its over 2500 clients and 500 business concerns for over 50 years.
Thirty-eight acquisitions in 22 years…
Headquartered in Natick, Eastern Insurance is currently the largest insurance agency in Massachusetts. Nationwide, it is the 51st largest independent agency.
Eastern Insurance currently services more than 70,000 individuals and businesses throughout the Commonwealth from the Merrimack Valley down to Cape Cod. With the acquisition of the Patterson Agency, it has acquired an impressive 38 insurance agencies since 1994, with 25 of those occurring since 2002.