The Hales Report, a leading insurance industry publication that provides comprehensive analysis and insights into the insurance brokerage sector, reported in its January 6, 2025, edition that Alera Group acquired Needham-based Kaplansky Insurance on December 31, 2024. As of publication, neither party had publicly announced the transaction.
Kaplansky Insurance History & Growth
Founded in 1974 by Ely Kaplansky, the agency has grown from a single office to become one of the largest independent insurance agencies in Massachusetts through a strategic expansion program that included 48 acquisitions. The agency currently operates 17 locations throughout Massachusetts and Rhode Island, serving over 40,000 clients.
Ely Kaplansky built the agency through organic growth and strategic acquisitions, focusing on maintaining strong local relationships while expanding the firm’s geographical footprint.
The agency also has earned multiple industry accolades, including “Five Star” and “Best Practices” awards, and has been recognized by Inc. Magazine for inclusion in its “5000 Fastest-Growing Private Companies in America.”
Under Kaplansky’s leadership, the agency has developed a strong reputation for personalized service and deep local market expertise, particularly in eastern and central Massachusetts.
About Alera Group
The reported acquisition by Alera Group would add Kaplansky Insurance to one of the nation’s leading independent insurance and wealth management firms. Alera Group, formed through the simultaneous merger of 24 independent agencies in 2017, has grown to become the 11th largest privately-held insurance firm in the United States. The company manages approximately $45 billion in retirement and wealth assets while generating annual revenues exceeding $1.4 billion.
Under its business model, Alera Group typically allows acquired agencies to maintain local autonomy while accessing the resources and capabilities of a national organization. The firm operates from more than 180 locations nationwide, with a team of over 4,400 professionals.
