In 2013, Farrell Backlund transitioned into the FBInsure name
Taunton-based FBInsure has acquired the Hardy & Ponte Insurance Agency. The transaction announced this month was effective as of January 2016.
“We are very excited to bring the Hardy & Ponte Insurance Agency to the FBinsure name, ” said Russ Martorana, President and CEO upon announcement of the acquisition. “This decision further strengthens both our agencies, as well as FBinsure’s presence on the South Coast. We fully expect clients of both agencies to feel the positive impact in their future experiences here.”
Based in New Bedford, the Hardy & Ponte Agency is an independent agency founded by Arthur J. Hardy Jr. and George P. Ponte. According to the terms of the transaction, the current president of Hardy & Ponte, Jeff Hardy, will continue on with the agency for the time being to ensure a smooth transition for both his agency and its nearly 1,000 clients as they change over to the FBInsure brand. In addition, his partner, Claudia Donaghy, will also continue on with FBInsure after the merger of the two agencies.
In the coming months, FBInsure says it will focus on implementing minor changes to the former independent agency, which will mainly include updating technology as well as providing greater access to new companies to former Hardy & Ponte policyholders.
In commenting on the sale of the agency, Mr. Hardy noted that, “It is important to us that our valued clients have access to the best insurance products and service available. Those ideals are shared by the team at FBinsure. With significant technological improvements and an expanded list of insurance companies, I believe this move will bring an enormous amount of value to our clients,” he added
This is the third acquisition in the past two years for FBInsure
This is the third acquisition in two years for FBInsure. In 2014, it acquired the Gramlich Insurance Agency, also located in New Bedford. In 2015, it purchased the Henry L. Newbury Insurance Agency of North Attleboro.
FBInsures roots began in the early 1950s with Phil Farrell and Rudy Backlund, each independent insurance agents with their own agencies in Taunton and Rehoboth, respectively. In 1999, the two agencies merged to become the Farrell Backlund Insurance Agency, LLC. In 2008 the Anderson-Cushing Insurance Agency of Middleboro merged with Farrell Backlund, followed shortly by the East Freetown and Richardson-Cuddy Insurance Agency of Attleboro who merged with FBIA in 2011.
Both a Five-Star Agency as well as a 2014 Best Practices Insurance Agency, the former Farrell Backlund Insurance Agency transitioned into the FBInsure brand name in 2013. The independent agency now boast more than 20,000 total clients represented by 67 different carriers in its nine office locations throughout Southern Massachusetts.
