Duffy Insurance Agency has acquired the assets of the B&M Insurance Agency in Wakefield, MA. The B&M Agency, led by Rob McCormack, Jr., will continue to manage their existing clients that they have been servicing out of their Wakefield office for the past 50 years.
B&M Insurance was founded in 1973 by Robert McCormack. Since then, B&M Insurance has served the insurance needs of thousands of individuals, families and businesses across Massachusetts and New Hampshire.
“During its 50 years in business, the B & M Insurance Agency established itself as a highly respected insurance agency. When I first met the owner Bob McCormack and his son, Rob Jr, it was very clear that we shared much of the same business philosophy with regards to providing personal, in-house customer service. Over the past few years, we met several times and really developed a strong relationship and understanding of how to best transition the agency that the McCormack Family worked so hard to build. The customers of B & M Insurance will continue to enjoy this in-house customer service with a strong emphasis on the personal relationship. In addition, customers will enjoy additional product offerings and insurance company options at Duffy Insurance. I couldn’t be more excited to partner with Rob Jr and the B & M Team,” said Marc Duffy, President of Duffy Insurance Agency.
A Message from Robert “Bob” McCormack:
“Our agency has been servicing our clients throughout the state for the past 50 years. Over the past 29 years, we have focused on providing group discounts to educators of the American Federation of Teachers in Massachusetts and New Hampshire. As I now step aside from the business, I wanted to merge our agency with a brand that most importantly resembles our core values. This allows for a seamless transition for our employees, but more importantly for our clients. I just had to spend a few minutes with Marc to know Duffy Insurance incorporates the same core values and mission statement as we do. The ability to always put the client first and to always be available to our clients was a must in identifying the perfect match for our business. As we bring our own experience and relationships to the table and combine that with the Duffy Family, it will only enhance our ability to service our clients, educators and help enhance the growth of the Duffy Family of Agency’s.,” said founder Robert “Bob” McCormack.
Bob’s son Robert also added his thoughts and feelings on the purchase/sale.
“From our first meeting with Marc, I saw the similarities in not only growing up in the family business and being a family agency, but more importantly, how both agency’s put their clients first. I have the utmost faith in Marc and his vision of growing the Duffy brand to make it one of the premier insurance agencies in the state. I welcome the opportunity in joining the Duffy family where I can continue to serve our clients, but more importantly help grow the Duffy brand.” Said Robert McCormick Jr., Principal of B&M Insurance.
Duffy Insurance Agency’s first acquisition in 2023
Founded in Lynn, Massachusetts in 1996 by the late Paul Duffy and currently led by Paul’s son Marc Duffy, Duffy Insurance Agency is a family insurance agency that services personal and commercial insurance customers throughout Massachusetts. A large portion of this growth has come via the acquisition of other Massachusetts independent insurance agents. The acquisition of B&M Insurance marks the sixth external acquisition completed by Duffy since 2020. They include:
- July 2020 – Duffy Acquires N. Pingree Insurance in Georgetown, MA
- January 2021- Duffy Acquires Barry and O’Connor Insurance in Lynn, MA
- August 2021- Duffy Acquires Charles A. Slee Agency in Marblehead MA
- Sept 2021- Duffy Acquires A.J. George Insurance in Peabody MA
- June 2022- Duffy Acquires Allan Insurance in Salem MA
“Although we have expanded in recent years, we continue to operate like a small, family insurance agency. We don’t outsource customer service. All customer service is done in- house by our team members. This is key to us maintaining personal relationships with our customers. This makes us a unique option for owners who are looking to retire but want to make sure their customers and employees continue to enjoy personal relationships that have been in place for many years,” said Marc Duffy previously.
Duffy Insurance adds that it continues to look to acquire independent insurance agencies in the Greater Boston Area. For more information contact Marc Duffy at Marc[at]Duffyins.com.
To learn more about the Duffy Insurance Agencies history and current president Marc Duffy, please refer to our recent interview with him here: A North Shore Success Story: The $40 Million And Growing Duffy Family Of Insurance Agencies.
