Three more acquisitions in Massachusetts in Q1-2020 as compared to Q1-2019
As Agency Checklists has done for every quarter for the past few years, the following is a listing of the agency acquisitions have been reported or announced during the First Quarter of 2020, which we will refer to as Q1-2020. For comparison purposes, the list includes the list of insurance agency mergers and acquisitions Agency Checklists compiled in 2019. Since not every purchase and sale is announced, however, please note this may not include transactions not reported or announced publicly.
The purpose of this list is to help our readers take stock of the consolidation of the marketplace within Massachusetts versus what is happening nationally. Unlike the national trends, however, the majority of purchases and sales have been between agencies owned and operated in Massachusetts. It goes without saying, however, that the rate of Mergers & Acquisitions in Massachusetts will undoubtedly change for the remaining quarters of this year as a result of the COVID-19 pandemic.
Our proprietary list of purchases and sales of Massachusetts agencies
Based on our data compiled thus far in 2020, insurance agency acquisitions in Massachusetts for Q1-2019 were acquired at the same or slightly greater pace than last year right up until March.
- There were a total of nine (9) reported M&A transactions in Massachusetts during Q1-2020.
- This is three more than the amount announced during Q1-2019.
The following is a list of the transactions featured in Agency Checklists during 2020, followed by our list from 2019. As always, if you know of a sale of insurance agency not listed here, please help us keep this list as accurate as possible by letting us know here.
Massachusetts agencies sold in 2020
January 2020 (Q1)
The Connolly Insurance Agency Merges With Morse Insurance
Alera Group Acquires Massachusetts’ Sylvia Group
February 2020 (Q1)
The Hilb Group Acquires Group Brokerage Insurance Agency
FBInsure Acquires Attleboro’s Nimiroski Insurance Agency
The Risman Insurance Agencies acquire the T.F. Ward Insurance Agency of Melrose
March 2020 (Q1)
Kaplansky Insurance Acquires Pike Insurance
The Hilb Group, LLC Acquires LifePlus Insurance Agency, Inc.
Gilbert Insurance Acquires Aljane Insurance Inc. of Medford
Massachusetts agencies sold in 2019
January 2019 (Q1)
Make It 32 – Kaplansky Insurance Acquires The KW Insurance Agency
Ryan Specialty Group, LLC To Acquire Boston Insurance Specialists
February 2019 (Q1)
FBinsure Acquires The Reid-Hofmann Insurance Agency
C&S Insurance Announces The Acquisition Of The Francis M Walley Insurance Agency, Inc.
March 2019 (Q1)
WTPhelan Acquires The Robert J. Cappadona Insurance Agency
The Hilb Group Acquires Another Massachusetts Insurance Agency, It’s First Of 2019
April 2019 (Q1)
No reported transactions
May 2019 (Q2)
Rogers & Gray’s Acquires The Paul Peters Agency of Falmouth & Mashpee
June 2019 (Q2)
Risk Strategies Acquires MainStreet Consulting Group
New England-based 360 Corporate Benefit Advisors Bought By The Hilb Group
Boston-based Risk Strategies Acquires Creative Insurance Solutions
Twinbrook Acquired By Brown & Brown of Massachusetts
July 2019 (Q2)
Risk Strategies Acquires California’s Winter Group, Inc.
T. Edmund Garrity Acquires The Willard Martin Agency
Risk Strategies Acquires Gerard B. Tracy Associates
The Hilb Group Acquires Massachusetts’ Agency Handy-Apple Valley, LLC
Boston-based Risk Strategies Buys New York Brokerage Firm Reiff & Associates
August 2019 (Q3)
HUB New England Acquires The Insurance Center of New England
Brown & Brown of Massachusetts Acquires Boston’s Yozell Associates
September 2019 (Q3)
The John C. Gallagher Insurance Agency Joins Kaplansky Insurance
The Hilb Group, LLC Acquires Massachusetts-based, The Incentive Group, LLC
October 2019 (Q4)
No reported transactions
November 2019 (Q4)
The Hilb Group Is Sold To The Carlyle Group
The Hilb Group Acquires Southborough-based G&N Insurance
Brown & Brown Of Massachusetts Acquires Poole Professional Cos.
December 2019 (Q4)
Another Massachusetts Insurance Producer Joins The Hilb Group
Alera Group Acquires Massachusetts’s Sylvia Group
