This marks the 13th agency acquisition for the Morse Agency
The Morse Insurance Agency, Inc., is pleased to announce its latest merger with the Habig & Magoon Insurance Agency on October 1, 2021.
Morse Insurance Agency’s president, Dan Morse, says, “For many decades, just like Morse, Habig & Magoon has been a local and knowledgeable insurance resource for Easton residents and businesses. Both of our agencies are family-owned and operated with similar personalities and philosophies. Most importantly, we share a dedication to being active members of the communities and providing our neighbors with superior service, advice and solutions.”
While the merger with Habig & Magoon may be Morse’s most recent M&A activity, it is far from the only union of this type in the agency’s history. In the mid-1980s, the Morse Insurance Agency’s first merger, between the David R. Morse Insurance Agency and the John I. Lowndes Insurance Agency, was executed by agency founder, David Morse. Since then, identifying mutually beneficial merger and acquisition opportunities with other local, independent agencies in the Southeastern Massachusetts marketplace has been an essential part of Morse’s overall growth strategy. Morse’s Bridgewater and Norton locations were the direct result of agency acquisition deals — Arnberg Insurance in January 2000 and Peloquin Insurance in October 2010, respectively.
Dan explains, “While the nature of every deal has been different, the main goals of each transaction have generally been the same. At Morse, we strive to maintain growth in order to stay relevant to consumers and remain strategically important to our insurance carriers. However, mergers and acquisitions are just one way to grow. We also focus on organic growth, which means bringing in new business and developing our existing accounts. Both are critical if we want to have continued success.”
With the addition of Habig & Magoon, the total number of mergers and acquisitions for Morse stands at 13. Across the agency’s four locations, there are now 40 team members. However, Morse leadership, which includes Dan and his brothers Tim and Brian, will continue to seek out agency owners who may be looking for a partner or to sell, whether in the near future or further down the line. Several of Morse’s past deals have come after years of cultivating trust with another agency principal. When the owner is ready to step down or take on less responsibility, they are very familiar with Morse and its proven and extensive track record of facilitating these transitions and making sure they go smoothly.
Says Dan, “Although we know the right price is important, we also understand that sellers are looking for more than just the highest bidder. From a merger to an outright sale, we know that agency owners appreciate our ability to offer flexibility in terms of the M&A arrangements. But we believe what’s even more important to sellers is that we commit to taking great care of their clients and employees and carrying on the legacy they worked so hard to build. No one understands that need better than our Morse family.”
For those interested in learning more about the Morse Insurance Agency, please refer to Agency Checklists March 2020 profile entitled, “#MorseOfCourse: How Morse Insurance’s Second Generation Continues Its Success As A Generalist Agency Through Branding & Marketing.”