Hub International Limited announced that their Wilmington, Massachusetts-based hub, C.J. McCarthy Insurance Agency (McCarthy) has purchased for an undisclosed amount of cash the assets of Lyman Insurance Agency Inc. and Conly-Lyman Insurance Agency Inc. (Lyman).
Lyman has two offices in the state. Lyman’s Woburn office will relocate to Wilmington, and their Salem office will remain in place. Lyman, founded in 1979, has approximately $700,000 in revenue in middle market commercial business and personal accounts. The company owners are Warren and Debbiiangela Lyman. The Lyman’s will become senior vice president and vice president at McCarthy, respectively, reporting to Richard Palleschi, president.
Martin Hughes, Hub chairman and CEO said the Lyman acquisition was an excellent example of an important element of Hub’s growth strategy – the successful fold-in of a local firm by a regional hub. He continued, “Adding a fine local company such as Lyman to the Hub group helps us grow our client base and strengthen carrier relationships in the region. We’re also gaining the services of two successful insurance professionals in Warren and Debbiiangela Lyman.”
Was this article valuable?
Here are more articles you may enjoy.