The Bakker Agency is the founding member of the New England Insurance Alliance (NEIA)
Renaissance Alliance Insurance Services (RAIS) has acquired The Peter M. Bakker Agency, Inc. Based in Avon, Connecticut, the Bakker Agency is a full-service independent insurance agency as well as the founding member of the New England Insurance Alliance (NEIA).
NEIA is a 15-member independent insurance alliance founded in 2000 with offices in Connecticut, Massachusetts, and Vermont.
According to the terms of the agreement, The Bakker Agency will continue on as an independent agency, albeit under the Chairmanship of Renaissance Alliance president J. Bruce Cochrane. The Bakker Agency’s CEO and President, Peter M. Bakker, Sr., will continue as a special assistant to the Chairman, while John T. Maschi will remain as President of the agency, reporting directly to Mr. Cochrane. The Bakker Agency also will continue to manage the New England Insurance Alliance (NEIA).
With this strategic acquisition, RAIS expands its geographic footprint by creating a Connecticut-based hub for the independent insurance agency collaboration, while strengthening its profile as a regional coalition. The acquisition will also allow RAIS to provide greater service capabilities to its members located throughout New England as well as significantly augmenting its member network.
We could not be happier about this acquisition because the Bakker Agency is one of the most respected and prestigious independent insurance agencies in New England,” said RAIS President Bruce Cochrane in the company’s announcement. “We are honored and proud to continue the legacy of founder and chairman, Peter Bakker, a stalwart champion of independent agents throughout his long and distinguished career.”
Highlighting the reasons behind RAIS’ decision to acquired the Bakker Agency, Mr. Cochrane cites the Bakker Agency’s visionary leadership; excellent, seasoned bench of insurance professionals; long-standing sterling reputation; strong, balanced portfolio of personal and commercial clients; and excellent underwriting profitability. “Their values and ours are in alignment,” notes Mr. Cochrane, adding, “Our combined resources make us an even stronger regional powerhouse, squarely positioned to challenge the dynamics of an evolving market and strengthen our services to our personal and business clients.”
As for The Bakker Agency, CEO and Chairman, Peter M. Bakker was delighted to have finally found a like-minded company in which his agency could partner with. “We have been searching for a partner who shares our belief and commitment to the independent agency system and the highest dedication to those values we have practiced for the past 44 years. I have known Bruce Cochrane for over fifteen years and am delighted to become a part of his outstanding organization. I look forward to working with Bruce and his group to continue to offer to independent agencies market and operating solutions to insure their viability and growth long into the future.”
Renaissance Alliance in its own words…
Renaissance Alliance is a coalition of independent agencies, insurers, and service providers who work together to deliver “Best in Business” insurance services and products to personal and commercial insureds throughout New England. Headquartered in Wellesley, MA, Renaissance Alliance enables insurance agencies with the market differentiation, tools, technology and expertise to maximize sales, profits and equity both today and long into the future. Members retain full agency ownership and 100% independence, while gaining the infrastructure and resources to fuel unlimited growth.
