All the agency purchase and sales during the Second Quarter of 2021
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 during the 2nd Quarter of 2021 (Q2-2021). Additionally, for comparison purposes, the listing also includes those insurance agency mergers and acquisitions Agency Checklists compiled in both 2020, and 2019. Since not every purchase and sale is announced, however, please note that this list includes only the transactions that Agency Checklists has been made aware of or that were 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. It should be noted that during both 2020 and 2021, it appears a shift has occurred in the types of agencies acquiring other agencies. While a couple of years ago, the majority of purchases and sales had been between agencies owned and operated in Massachusetts, they are now many more national buyers entering this marketplace. With that said, many of our regions largest agencies such as Salem Five, Eastern Insurance, Kaplansky Insurance, and Cross Insurance continue to acquire agencies as they expand their geographic footprint throughout Massachusetts, and New England, and even New York.
Our proprietary list of purchases and sales of Massachusetts insurance agencies
Based on our data for 2021, here is a snapshot of the trends in insurance agency acquisitions in Massachusetts:
- During Q2-2021, there were a total of 17 reported transactions, 18 counting all of the New England region.
- In comparison, this is 12 more transactions than the five (5) reported during Q2-2020, in the middle of the pandemic.
- It is also five more than the 12 reported transactions during the First Quarter of 2021.
- The busiest months for acquisitions so far this year were January and March during Q1-2021, and April during Q2-2021, with eight (8) announced deals.
Massachusetts agencies sold in 2021
The following is a list of the transactions featured in Agency Checklists during 2021, followed by our list from 2020, and 2019. Any title with an * means that the update was sent to us, but was not an officially announced transaction that we reported. As always, if you know of a sale of an insurance agency not listed here, please help us keep this list as accurate as possible by letting us know here.
January 2021 (Q1)
February 2021 (Q2)
Cross Insurance Acquires Bedford Insurance Brokerage (N.Y.)*
April 2021 (Q2)
Cross Insurance Acquires Business Benefits, Inc.*
May 2021 (Q2)
Cross Insurance Acquires A.J. Benet, Inc. (N.Y.)*
June 2021 (Q2)
Massachusetts agencies sold in 2020
January 2020 (Q1)
Risman Insurance Acquires MassPay Insurance Agency*
February 2020 (Q1)
March 2020 (Q1)
April 2020 (Q2)
No Acquisitions Announced This Month
May 2020 (Q2)
June 2020 (Q2)
Massachusetts agencies sold in 2019 – Updated in 2020
January 2019 (Q1)
February 2019 (Q1)
March 2019 (Q1)
Cross Insurance Acquires The Quincy Insurance Agency (added in 2020)
April 2019 (Q1)
No reported transactions
May 2019 (Q2)
June 2019 (Q2)
Cross Insurance Acquires The Gerald T. McCarthy Insurance Agency (added in 2020)
July 2019 (Q2)
August 2019 (Q3)
September 2019 (Q3)
October 2019 (Q4)
No reported transactions
November 2019 (Q4)
Cross Insurance Acquires Fair and Yeager Insurance Agency (added in 2020)