Eastern Insurance Group in Natick, Massachusetts, has acquired James J. Sullivan Insurance Agency, an independent insurance agency based in Quincy, Massachusetts. Terms of the transaction were not disclosed.
James J. Sullivan Insurance Agency was founded in 1956 by Jim Sullivan. Sullivan and Sherry Wood are the current principals of the agency. Following the transaction, Sullivan will remain with Eastern Insurance Group, serving in a sales role as well as maintaining relationships with his largest clients, according to the announcement.
Eastern Insurance Group said the acquisition increases its customer base south of Boston, where it already has 10 locations, including Quincy. Eastern Insurance Group also said the move further strengthens its parent company Eastern Bank’s overall position in southeastern Massachusetts.
Eastern Insurance Group, a subsidiary of Eastern Bank in Boston, serves more than 70,000 individuals and businesses and provides personal and commercial insurance products, surety, and employee benefits services. Eastern Insurance has completed more than 34 insurance agency acquisitions since 1994.
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