AssuredPartners, has acquired another marquee Massachusetts insurance agency. The Florida-based insurance broker has announced the acquisition of Fred C. Church, Inc. Based in Lowell for over 150 years, the Fred C. Church Insurance Agency has been serving customers in and around the Lowell metropolitan area since 1865. As one of the oldest and most profitable independent insurance agencies in Massachusetts, the agency currently reports $37 million in annualized revenues.
“The acquisition of Fred C. Church significantly strengthens our growing footprint in New England, marking over $100 million in revenue for AssuredPartners in the region and the third Top 100 agency to join us in 2021,” said Randy Larsen, President of AssuredPartners. “We are looking forward to continued growth in the Northeast with the addition of this talented team.”
According to the terms of the transaction, the Fred C. Church team of 160 employees will remain under the leadership of Mike Reilly, the current President and Chairman after completion of the purchase.
In commenting on the sale of the agency, Mike Reilly said, “Joining AssuredPartners will give us access to additional resources that will promote continued growth and provide the highest level of service to our clients.”
AssuredPartners Regional President, Lauren Yurick, stated, “The people at Fred C. Church conveys true customer service and dedication to their community. I am extremely excited to have them join our growing team in the Northeast marketplace and look forward to expanding our operations even more in 2022.”
Assured’s Growing New England Footprint
Headquartered in Lake Mary, Florida, AssuredPartners is a full-service insurance broker providing commercial insurance, risk management, employee benefits through consulting and services. With over 7,500 employees in offices throughout North America, London, Belgium and Scotland, AssuredPartners has a major global and national presence.
Prior to 2020, however, the brokerage firm was not a household name within the New England insurance industry. That all changed, however, in 2020. In June of that year, it announced its acquisition of WTPhelan & Co. folllowed by the People’s United Insurance Agency. Since then, the company has gone on to add an additional five New England Insurance Agencies to its roster (including Fred C. Church) since then.
Assured Partners Acquisitions since 2020
- Assured Partners Acquires WTPhelan & Co. Insurance Agency, Inc. (June 2020)
- Assured Partners Acquires People’s United Insurance Agency (November 2020)
- AssuredPartners Northeast Acquires Fessenden & Sykes (January 2021)
- AssuredPartners Acquires The Joseph A. Glynn Insurance Agency (March 2021)
- AssuredPartners Acquires Lehrer & Madden Insurance Agency (May 2021)