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You are here: Home / Insurance News | Massachusetts / Insurance Agencies | Mergers & Acquisitions / Updated: Insurance Agency Mergers & Acquisitions in Massachusetts | 2020

Updated: Insurance Agency Mergers & Acquisitions in Massachusetts | 2020

February 1, 2021 by AC Editor

UPDATE: Thank you to Cross Insurance and the Risman Family of Insurance Agencies for sending us four additional insurance agency merger and acquisitions announcements that occurred in 2020 and were omitted from last week’s list. For those interested in viewing those acquisitions they are denoted by the *sign.

The data breakdown also has been updated to include these additional sales.

A look back at all the agency purchase and sales during 2020

As Agency Checklists has done for every quarter for the past few years, the following is a running list of the agency acquisitions reported or announced for the 4th quarter of 2020 and 2020 in total. For comparison purposes, the listing also includes those 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 over the past decade, it is worth noting that the majority of purchases and sales have been between agencies owned and operated in Massachusetts. It also important to add 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 insurance agencies

Based on our data for 2020, insurance agency acquisitions in Massachusetts were as follows:

  • There were a total of twenty-nine (33) reported M&A transactions in Massachusetts during 2020.
  • The busiest quarter for acquisitions during 2020 was Q1-2020 with a total of 11 transactions.
  • July was the busiest month of 2020 with five (5) agency acquisitions announced.
  • The following is a run-down of total transactions for each quarter of 2020:
    • Q1-2020: 11 transactions
    • Q2-2020: 5 transactions
    • Q3-2020: 8 transactions
    • Q4-2020: 9 transactions

Massachusetts agencies sold in 2020

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.

Photos from some of the agency acquisition announcements covered in 2020

January 2020 (Q1)

The Connolly Insurance Agency Merges With Morse Insurance

RogersGray Expands Its Geographic Footprint in Southern Massachusetts With Acquisition Of The G.H. Dunn Agency

Alera Group Acquires Massachusetts’ Sylvia Group

Risman Insurance Acquires MassPay Insurance Agency*


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)

The Risman Agency Acquires The Phil Richard Insurance Agency*

Kaplansky Insurance Acquires Pike Insurance

The Hilb Group, LLC Acquires LifePlus Insurance Agency, Inc.

Gilbert Insurance Acquires Aljane Insurance Inc. of Medford


April 2020 (Q2)

No Acquisitions Announced This Month


May 2020 (Q2)

The DiVirgilio Insurance Agency Acquires On-Time Payroll, Inc.

Hub Acquires Massachusetts-Based Lashua-LaChance & Poliks Insurance Agency, Inc.


June 2020 (Q2)

The Madeleine Brooks Insurance Agency Is Acquired By The A.P. Michaud Agency, LLC

Foley Palenscar Schortmann Acquires Pollicelli & Mullen Insurance Agency

Assured Partners Acquires WTPhelan & Co. Insurance Agency, Inc.


July 2020

AHT Insurance Acquires Mason & Mason Insurance

Chatham’s Eldredge & Lumpkin Sold To The Hilb Group

Peter C. Foy Insurance Acquires Massachusetts’ Moulton Insurance As Part Of Regional Agency Buying Spree

The N. Pingree Insurance Agency Joins The Duffy Family of Insurance Agencies

Morin & Foy Merges With First American Insurance Agency

August 2020

Brown & Brown Acquires Quincy’s Amity Insurance Agency

Risman Insurance Acquires Insurance Associates of Burlington, MA

September 2020

Risk Strategies Acquires Securitas Insurance Partners


October 2020

Alera Group Acquires Gordon Atlantic Insurance Agency

Eastern Insurance Continues Expansion With Auburn Insurance Agency Acquisition

November 2020

Hub Acquires Its Second Massachusetts Agency in 2020 -Baystate Fiduciary Advisors, Inc.

Assured Partners Acquires People’s United Insurance Agency

December 2020

MTM Insurance Acquires The Brian S. Dempsey Insurance Agency

Eastern Insurance Group LLC Acquires Assets Of Campbell, Flaherty & Ring Insurance Agency, Inc.

Arthur J. Gallagher Acquires North Star Marine Insurance

Cross Insurance Acquires Boston Marine Insurance Services, LLC*

Cross Insurance Acquires The McSweeney & Ricci Insurance Agency*


Massachusetts agencies sold in 2019 – Updated in 2020


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

Cross Insurance Acquires The Quincy Insurance Agency (added in 2020)


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

Cross Insurance Acquires The Gerald T. McCarthy Insurance Agency (added in 2020)


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.

 Cross Insurance Acquires Fair and Yeager Insurance Agency (added in 2020)


December 2019 (Q4)

Another Massachusetts Insurance Producer Joins The Hilb Group

Alera Group Acquires Massachusetts’s Sylvia Group

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Filed Under: Insurance Agencies | Mergers & Acquisitions, Latest News Tagged With: Agency Checklists, insurance agencies acquired in Massachusetts, Insurance Agency Acquisitions Massachusetts, insurance agency sales massachusetts, massachusetts insurance news, New England Insurance News

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