Morse Insurance is a second-generation-owned independent insurance agency in Easton
Another Massachusetts insurance agency has joined Patriot Growth Insurance Services. Easton-based Morse Insurance, a third-generation independent insurance agency, announced the news on LinkedIn last week, stating, “We’re happy to share an important update that strengthens our agency and enhances the service we provide: Morse Insurance has officially joined forces with Patriot Growth Insurance Services, LLC.”
“Joining the Patriot family will give my team more support, but it will not change who we are or how we work with you,” commented Dan Morse in the announcement. “You will continue to see the same faces, in the same office locations, and receive the same responsive service, guidance, and expertise you count on,” he added.
A growing presence in Massachusetts and New England
Founded in 2019 by Chairman and CEO Matt Gardner and backed by private equity firms GI Partners and Summit Partners, Patriot is based in Fort Washington, Penn. In 2024, the company announced that it raised $500 million in funding to continue its aggressive organic growth and acquisition strategy. In July of this year, the company was ranked the 25th-largest insurance broker in the United States by Business Insurance magazine, with reported brokerage revenue of $555,869,000.
As for its presence in the Commonwealth, the firm first entered Massachusetts in 2021, when it announced its partnership with FBInsure. Since then, the company has expanded its presence in Massachusetts and New England through a bevy of acquisitions. They include the following:
- Patriot Growth & FBinsure Acquire Rhode Island Insurance Group (2024)
- Patriot Growth Insurance Services Expands Footprint In New England Region with Blueprint Benefit Advisors (Blueprint) Acquisition (2023)
- Patriot Growth Acquires DMM Advisors (DMM) and PFG Benefits (2023)
- Patriot Growth Insurance Grows New England Presence With WD & Associates Partnership (2023)
- Patriot Growth Adds New Mass. Partner McCormick & Sons Insurance (2022)
- Patriot Growth Grows In Mass. With Paul B. Sullivan Acquisition (2022)
- Patriot Growth Insurance Expands Its New England Presence With Addition of Boston-based Exchange Insurance Agency (2021)
- FBinsure becomes the first New England agency partner for Patriot Growth Insurance Services (2021)
A Business model where agencies maintain their operational autonomy and name
As the company explained to Agency Checklists back in 2021, 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. According to the company, the ideal acquisition partner candidates for Patriot are those who want to continue running their organizations day to day while preserving their brand and the agency’s legacy.
“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.”
To date, the company counts more than 1,800+ employees in 130 offices across 26 states.
