The Brookline-based agency has averaged one agency acquisition a year for the last 19 years
Kaplansky Insurance announced this week that it has acquired two offices of Congress Insurance. The Brookline-based agency will take over the Cambridge and Quincy offices of Congress. Congress, however, will continue to operate its other two locations in Lynn and Framingham. Kaplansky plans to merge the former Congress Cambridge and Quincy branches into the Kaplansky Agency’s existing offices in Weymouth and Cambridge, respectively.
Founded in Brookline in 1974, Kaplansky Insurance is owned and operated by President and CEO Ely Kaplansky. The agency now operates in 11 locations in eastern and central Massachusetts and has its sights on continuing to grow and to acquire other agencies.
“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” according to Mr. Kaplansky.
In discussing his acquisition of the Lex Insurance Agency in 2012, Kaplansky said that in his opinion the greatest challenge in acquiring an agency is finding that right one. “My greatest challenge is locating good agencies for sale. We use various methods that include networking with our companies and other agents.” Generally, “We look for well-established agencies in good communities that have good books of business and a professional staff. The most important thing is a good book of business at a minimum, with the potential to be improved.”
As for the Congress Insurance Agency deal, Mr. Kaplansky and his agency are looking forward to welcoming their new customers from Congress and providing them with “…access to a broader range of insurance products and services.”