Fitzsimmons Insurance Joins Commerce National Insurance Services

January 5, 2001

Commerce National Insurance Services, a wholly owned subsidiary of Commerce Bancorp Inc., has acquired Fitzsimmons Insurance & Financial Services Inc., based in Summit, New Jersey.

Founded in 1913 by James Fitzsimmons, the firm specializes in providing a full range of business and personal insurance lines for customers throughout central New Jersey. In recent years the agency has also developed a successful affinity insurance program that focuses on offering discounted personal insurance lines to various professional organizations and other groups such as college alumni.

The agency’s President, James Fitzsimmons III, will join Commerce National’s management team, as will Ronnie Lyn Schmidt, the firm’s director of commercial lines and Jan Masterson, the director of personal lines. Since its formation in October of 1996, Commerce National Insurance Services has expanded rapidly through a series of acquisitions.

Today, Commerce National is the region’s largest insurance brokerage firm and the 28th largest insurance brokerage firm in the nation. Commerce National serves over 100,000 clients in 25 states and has an annual premium volume that exceeds $500 million.

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