The company has acquired 18 independent insurance agencies within the last 20 years
The Kaplansky Insurance Agency of Brookline has acquired The Martin P. Wolf Insurance Agency of Needham. This latest acquisition marks the 18th agency acquisition for the insurance agency.
“We are pleased that we are able to associate with an agency with such a long history and excellent reputation,” said Ely Kaplansky, president and CEO of Kaplansky Insurance. “Mr. Wolf has provided local residents and business with an exceptional level of service for many years.”
Mr. Wolf will retire from the agency which Kaplansky plans to merge into its Needham branch. The Brookline-based insurer , founded in 1974, operates a total of 11 office locations in Brookline, Cambridge, Concord, Fairhaven, Marlboro, Maynard, Milford, Needham, Newton, Truro and Weymouth. In June of this year, the agency was re-certified as a “Five Star Insurance Agency” by the Massachusetts Association of Insurance Agents. The company has held the distinction since 2006. It has also recently received its second consecutive “Best Practices” award by the IIABA. The award recognizes the Best Practices of the Leading Independent Insurance Agencies in the United States.
Kaplansky is interested in acquiring other Massachusetts agencies
Kaplansky says that his company is still looking to grow and to acquire other Massachusetts agencies who might be looking to sell. “Our expansion plan is on target. We are continuing our search for profitable, quality agencies. We expect to continue our growth through both acquisitions and a strong focus on organic sales and marketing.”
In an earlier interview with Agency Checklists concerning his company’s acquisition of the Lex Agency, Kaplansky was very clear in what type of agencies he is looking for. “We are now looking to target larger acquisitions although we are still a buyer for well-run smaller agencies if they are located in our marketing territory, which is primarily most of eastern Massachusetts,” Kaplansky explained, but “we will consider larger acquisitions anywhere in Massachusetts, Southern New Hampshire and Rhode Island. Our goal is to double in size within the next three years.”
Read our Agency Interview with Kaplansky Insurance founder, Ely Kaplansky, from earlier this year
