FBinsure, an independent insurance agency with nine locations in Massachusetts, announced Thursday that it has acquired the Hardy & Ponte Insurance Agency, an independent agency in New Bedford, Massachusetts. Terms of the transaction were not disclosed.
FBinsure said Hardy & Ponte’s President Jeffrey A. Hardy will step away from insurance to pursue other endeavors after the transition is complete. Hardy & Ponte’s two other staff members will join FBinsure as full-time employees. Hardy & Ponte serves nearly 1,000 clients.
Hardy & Ponte’s New Bedford office will be merged into FBinsure’s existing New Bedford location in coming months.
This is FBinsure’s third acquisition in past two years. FBinsure acquired Henry L. Newbury Insurance Agency in North Attleboro, Massachusetts, in February 2015, and also acquired Gramlich Insurance Agency in New Bedford, Massachusetts, in November 2014.
FBinsure is an independent agency based in Taunton, Massachusetts, with eight additional offices in the southeastern Massachusetts region. The agency is partly owned by Taunton-based Bristol County Savings Bank.
FBinsure has more than 90 employees and a client base of over 20,000 personal and commercial clients.