Agency will join Patriot Partner FBInsure’s platform
Patriot Growth Insurance Services, LLC adds another a Massachusetts independent agency to its growing Northeast presence. The national insurance agency announced that it has partnered with McCormick & Sons Insurance Agency. Founded in 2007 and led by David McCormick, McCormick & Sons Insurance is an independent agency serving over 2,000 clients throughout Norfolk and Barnstable County from their two office locations in Avon and Waquoit.
“On behalf of the entire Patriot team, I am excited to welcome McCormick & Sons to the Patriot family,” said Steve Carroll, Senior Vice President at Patriot. “As they join the FBinsure platform, this strengthens Patriot’s reach in the New England area and provides their employees and their clients national resources and collaboration opportunities.”
According to the terms of the transaction, the McCormick agency will become part of FBinsure, a Patriot partner agency, and the entire customer service team will remain with the agency and serve their clients with the same top-level professional care they are accustomed to receiving.
“We are excited to have the McCormick & Sons Insurance Agency join the FBinsure team,” said Russ Martorana, President and CEO of FBinsure. “As a well-known agency in a new community, we are thrilled they have chosen Patriot and FBinsure to drive their agency forward while maintaining their important client relationships. We have every confidence their clients will feel the positive impact in their future experiences.”
“It was important for us to ensure our clients would be able to work with the same familiar faces they have trusted for years, all while increasing their access to additional products and services. This partnership is right for our clients and employees, and the benefits will be felt for years to come,” stated David McCormick, President of McCormick & Sons.
A business model where agencies maintain their operational autonomy and name
As outlined in a previous Agency Checklists article, under Patriot’s business model, agencies partnering with Patriot maintain their local identity, culture, and autonomy while leveraging Patriot’s national resources to deliver high-quality customer service. The ideal acquisition partner candidates for Patriot are those who desire to continue to run their organizations on a day-to-day basis while preserving their brand and the agency’s legacy.
According to Mr. Gardner, Patriot strives to maintain the name and local brand recognition of its agencies.
“We think in the local markets…those agency names mean a lot and have a lot of brand equity, and a lot of times, the agency principals have their names on the door. That means a lot in their communities, so we believe strongly in retaining those local brands and those legacies.”
With this latest acquisition, Patriot and FBInsurance continue to expand their presence throughout the Commonwealth having entered into its fifth partnership since the start of the year. Previous partnerships include Tino’s Insurance Agency in January, shortly followed by the Durand Insurance Agency of Seekonk, Exchange Insurance, and Paul B. Sullivan Insurance.
