Eastern Insurance Acquires Kittredge Insurance Agency

Natick, Massachusetts-based Eastern Insurance Group has acquired Northborough, Mass.-based Kittredge Insurance Agency Inc.

Eastern Insurance, part of Eastern Bank, said the acquisition increases its customer base west of Boston, where it already has eight locations. In all, Eastern Insurance has 26 locations in eastern and central Massachusetts, parts of Connecticut and in New Hampshire.

“We are excited to welcome the talented staff of Kittredge Insurance,” said Hope Aldrich, president and CEO of Eastern Insurance. Eastern Insurance said it will retain the Kittredge’s employees, and Francis J. Kittredge, president of Kittredge Insurance, will remain with Eastern Insurance in a senior executive position.

“This is especially great news for our customers with the advent of competitive rating for auto insurance in Massachusetts,” said Kittredge, who founded the agency in 1984.

The expertise and services available to Kittredge clients – particularly in the areas of commercial and benefits insurance – will be expanded by the merger, Eastern said.

Eastern Insurance says it is the largest personal lines agency headquartered in Massachusetts, by number of locations.

Business Management Group, a subsidiary of The Hartford Financial Services Group, served as adviser to Kittredge Insurance Agency Inc. in this transaction.

Terms of the deal were not disclosed.
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Source: Eastern Insurance Group

Topics Mergers & Acquisitions Massachusetts