Eastern Insurance Group has announced the acquisition of the Barr Insurance Agency. For over 50 years, the Watertown-based Barr Insurance Agency has been a family-owned and operated independent agency offering both personal and business insurance coverages. The transaction was effective as of May 1, 2021, with no further terms of the sale disclosed.
“Barr Insurance has been known for providing both individuals and businesses with a large assortment of coverages, from automobiles to homes and commercial lines. It has had excellent client retention with many long-term customers, and we look forward to welcoming them to EIG,” said John Koegel, President and CEO of Eastern Insurance Group LLC.
In commenting on the sale of the agency, Marianne Jenkins, President of Barr Insurance, said, “After serving our valued clients for the past five decades, we are excited for the new opportunities that will be available to them through the highly regarded Eastern Insurance team.”
Eastern Insurance’s 34th acquisition since 2002
This is the second acquisition in 2021 for the Commonwealth’s largest independent insurance agency and its 34th overall since 2002. In April of 2021, Eastern Insurance welcomed the Concord-based Northbridge Insurance Agency, while in 2020, it acquired 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 the Eastern Insurance Group
Headquartered in Natick, Massachusetts, Eastern Insurance is a wholly-owned subsidiary of Eastern Bank. Licensed to do business in every state, Eastern Insurance 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 and the 30th largest property and casualty agency in the United States.