This marks the 33rd acquisition for the Natick-based insurance agency since 2002
The momentum of acquisitions in Massachusetts continues. Eastern Insurance Group has announced its acquisition of the Northbridge Insurance Agency, Inc. Based in Concord, NorthBridge Insurance is a full-service independent agency founded in 1997 and run president Carol Wilson. The transaction was effective as of April 1, 2020, with no further terms disclosed.
“For decades, NorthBridge Insurance has been dedicated to excellence in the insurance industry. Its customer service, work with insurance carriers and involvement in the community are highly regarded, and we are excited to welcome the team to our organization,” said John Koegel, President and CEO of Eastern Insurance Group LLC.
Carol Wilson, President of NorthBridge Insurance, added, “Insurance is our passion, as is offering insurance service that exceeds expectations to individuals, businesses and families. Eastern Insurance stands for all that we believe in–providing the best products and services to our clients, a great place to work and giving back to the community–and we are thrilled to be joining with them and offering more opportunity to our customers and employees.”
Eastern Insurance’s 33rd acquisition since 2002
The addition of the Concord-based Northbridge Insurance Agency marks the 33rd acquisition since 2002 for one of the Commonwealth’s largest independent insurance agency. The other most recent acquisitions by Eastern Insurance include the Campbell, Flaherty & Ring Insurance Agency in December, 2020, and the Auburn Insurance Agency in October 2020. As of 2020, the Natick-based insurance agency was ranked the 30th largest property and casualty agency in the United States.
More about Eastern Insurance Group and Eastern Bank
Founded in 1818, Boston-based Eastern Bank has more than 110 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. As of December 31, 2020, Eastern Bank had approximately $16.0 billion in total assets. Eastern provides banking, investment and insurance products and services for consumers and businesses of all sizes, including through its Eastern Wealth Management division and its Eastern Insurance Group LLC subsidiary.
Eastern Insurance, headquartered in Natick, is a wholly-owned subsidiary of Eastern Bank. Licensed to do business in every state, it serves more than 75,000 individuals and businesses and provides a full range of personal and commercial insurance products, as well as employee benefits services. Representing more than 50 national and regional insurance carriers, Eastern Insurance is recognized as one of the largest insurance agencies headquartered in Massachusetts.