Cross Insurance Acquires Assets of Maine, Connecticut Brokers

Bangor, Maine-based Cross Insurance has acquired the assets of two insurance brokers – Willis of Northern New England Inc., and The Insurance Exchange Inc. of Stamford, Connecticut.

Formerly known as the Dunlap Agency, Willis of Northern New England is a Northeast insurance broker specializing in attorneys, not-for-profit organizations, hospitals and contractors. Willis of Northern New England operated out of four offices in Maine, individually located in the cities of Lewiston, Bangor, New Gloucester, and Portland. All four offices will subsequently be re-branded under the Cross Insurance name.

Cross Insurance said it will retain a “substantial number” of Willis of Northern New England employees.

The acquisition of Stamford-based The Insurance Exchange, an independent, family-owned insurance agency, marks Cross Insurance’s first move into the Connecticut insurance market. Founded in 1985 by Michael and Ronnie Wiederlight, The Insurance Exchange currently sells both personal and commercial property/casualty insurance. The agency currently serves Fairfield County, Conn., Westchester County, New York, and adjacent areas in several states.

Terms of the acquisitions were not disclosed.

Since its founding in 1954, Cross Insurance has grown through the acquisition of more than 100 insurance agencies throughout New England.

Topics Mergers & Acquisitions Agencies Connecticut