This is the second agency to join the national insurer’s platform in New England
After welcoming FBinsure, its first Agency Partner in New England earlier this year, Patriot Growth Insurance has announced another agency acquisition in Massachusetts. The national agency has welcomed the Boston-based Exchange Insurance Agency (“Exchange Insurance”) to the Patriot platform.
Originally founded in 1964 on Congress Street in Boston, Exchange Insurance has been led by industry veteran Doug Cameron since 1999. The agency now based in Charlestown has grown over the years to service clients not only in the Greater Boston Area but also in Rhode Island, New Hampshire, and Maine, servicing more than $3million in total account premium. Patriot Growth Insurance says the addition of Exchange Insurance to the platform will allow it to “significantly bolster” both its capabilities and presence throughout both the commonwealth and New England.
“Patriot is building a powerhouse business in Massachusetts, and the addition of the Exchange team accelerates our progress along that path,” said Matt Gardner, Founder and CEO of Patriot. “We are humbled by the confidence that Doug has placed in us, and we welcome the entire Exchange team to the Patriot family as they continue on their growth journey.
“At Exchange, we have a simple mantra of putting our clients’ interests first and above all else,” said Mr. Cameron, President of Exchange. “Every customer is unique and so are their insurance needs – we handle each client with tact and care. We are elated to partner with Patriot and have already begun to leverage their deep resources and tools.”
Going forward, Exchange Insurance will be a part of the FBinsure Platform
According to the terms of the agreement, Exchange Insurance will now operate within Patriot’s FBinsure (“FB”) platform. In February of this year, FBinsure, announced that it would become the first agency partner in New England for Patriot Growth Insurance and the foundation for the agency’s expansion into New England.
Founded as a family-owned and operated independent agency more than 70 years ago, Taunton-based FBinsure has grown over the past seven decades into a local powerhouse agency serving clients across an array of diverse industries, including construction, manufacturing, distribution, municipalities, non-profits, health services, financial institutions, and transportation. With more than 10 locations throughout Southeastern Massachusetts, it currently employs over 100 employees. With the addition of Exchange Insurance to the FBinsure platform, it will now expand its footprint into the Greater Boston Area and beyond.
“From the moment we met Doug and the team, we felt an instant connection,” said Russ Martorana, President of FBinsure. “We have no doubt that we can meaningfully accelerate their already impressive growth and are fortunate to partner with such an experienced and dedicated team in Exchange.”