WTPhelan & Co., a stalwart of Cambridge for over 100 years has been sold. Florida=based AssuredPartners, Inc. announced that it has acquired the family-owned and operated independent insurance which has been in operation for approximately 122 years. The agency currently reports $18 million in annualized revenues.
“Since 1898 WTPhelan has operated under our core values of integrity, innovation, and improvement, ” said Principal Robert Ramsey. “As we move into this next chapter, we are looking forward to maintaining our disposition of hard work and dedication as a proud new partner of AssuredPartners.”
“Our goal at WTPhelan is to find clients the best coverage at a competitive price to meet their insurance needs. We are committed to making certain families and businesses are properly covered,” he added. “Joining AssuredPartners will allow us to continue to serve our clients in a collaborative environment with our new partner, AssuredPartners.”
David Ramsey, Vice President of WTPhelan concurred. “For over 100 years, WTPhelan has been an industry leader in delivering technical expertise and superior customer service. We are committed to providing key resources to our staff to help them succeed. Joining AssuredPartners will allow us to continue providing our expertise along with the ability to grow our agency.”
According to the terms of the transaction, the WTPhelan team of 58 employees will all stay on after the completion of the transaction. Roberty Ramsey also will continue on afterwards as well overseeing the agency operations.
AssuredPartners Regional President Tom Kozera stated, “The team at WTPhelan conveys true customer service and dedication to their community. We are pleased to have new members of WTPhelan join our growing team in the Northeast marketplace.”
“AssuredPartners culture and strategic growth is exciting for our Northeast Operations,” stated AssuredPartners President and COO Tom Riley. “Growth through these amazing partnerships is what makes AssuredPartners so unique. We would like to welcome the employees and clients of our new partner, WTPhelan & Co. Insurance Agency.”
Over the years, WTPhelan itself acquired other insurance agencies within Middlesex County in order to be create a strong geographical footprint. With the purchase of WTPhelan, AssuredPartners 20th acquisition so far in 2020, it gets a strong foothold into the Massachusetts marketplace.