Cross Insurance, an independent insurance agency based in Bangor, Maine, with more than 35 offices in the Northeast, announced the purchase of Boston-based independent agency Knapp Schenck & Company. Terms of the transaction were not disclosed.
Knapp Schenck & Company is a regional property/casualty retail agency providing insurance services to both commercial and personal clientele. The agency focuses on commercial and residential real estate ownership; management & development; construction; manufacturing; distributors & wholesalers of all types; non-profits; municipalities; and private schools. Founded in 1921, Knapp Schenck & Company is based in Boston’s financial district, with a branch office in Braintree, Massachusetts. The firm has 33 employees and has $35 million in premium volume.
Under terms of the acquisition, Knapp Schenck & Company will retain its name and continue to operate with the same staff and leadership from Boston and Braintree offices.
Founded in 1954, Cross Insurance is an independent insurance agency with 700 employees in more than 35 offices, serving 100,000 customers throughout the Northeast region. Family-owned and operated, Cross Insurance, a subsidiary of Cross Financial Corporation, provides insurance and financial products including personal and commercial insurance lines, employee benefits, surety bonds, risk management advice and counsel, and products focused on higher education and high net worth needs.
Topics Mergers & Acquisitions
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