The Walter Cronin Agency has been an independent agency for over 50 years
In another sign that agency consolidation in the Massachusetts insurance marketplace shows no signs of slowing down, Cambridge-based WTPhelan, has announced an agency acquisition this month. The family-owned independent agency has acquired the Walter E. Cronin Insurance Agency.
Founded in 1947, the Walter E. Cronin Insurance Agency has been an independent agency in Newton for over 70 years. The agency, which was founded by Eugene Cronin, has been owned and operated until its sale by his son Walter.
Upon deciding to retire from his insurance, Mr. Cronin reached out to WTPhelan directly. Mr. Cronin’s close friend and fellow independent agent Vin Del Mastro had previously sold his Newton agency, the Del Mastro Insurance Agency to WTPhelan. WTPhelan Vice President Robert Ramsey said that when Mr. Cronin decided to retire he decided to go directly to WTPhelan, based upon his friend’s experience with the sale of his agency, knowing that a sale to WTPhelan would guarantee a seamless transition for his customers.
“At WTPhelan, we are committed to providing exceptional service, and we are honored that Mr. Cronin has entrusted our agency to take care of his customers” said Robert Ramsey, the Agency’s Vice President. “We are delighted to welcome Walter’s customers to WTPhelan, and are confident that we will provide them with the same level of integrity and care they have received from the Cronin family over the past 70 years.”
While Mr. Cronin plans to retire, he will continue to serve as a consultant going forward. As for the Cronin Insurance Agency’s insureds, they will have their policies handled via WTPhelan’s Watertown office.
WTPhelan continues to solidify its presence in Middlesex County
A fourth generation family-owned and operated insurance agency founded in Cambridge in 1898, WTPhelan has been focused on creating a strong brand presence in the greater Middlesex County area. The May 1st acquisition of the Walter E. Cronin Agency marks WTPhelan’s 13th agency acquisition within this geographic area.
So while Middlesex County has been the agency’s acquisition locus to date, acquisition in that county are not set in stone. In terms of future agency acquisitions, WTPhelan Vice President Robert Ramsey told Agency Checklists that, “Our management team is committed to growing the agency. We have developed a culture that is dedicated to sales and customer retention. As long as there are consummate insurance professionals like Walter E. Cronin planning for retirement, we remain interested in acquiring those quality firms.”