Cross Insurance, a Bangor, Maine-based subsidiary of Cross Financial Corp., has acquired Appleby & Wyman Insurance Agency, making it the 16th Massachusetts insurance agency to be purchased by Cross.
Founded in 1903, Appleby & Wyman was established to serve the insurance needs of businesses and individuals located throughout the U.S. It is licensed in 38 states, including all New England states as well as New York, New Jersey, Pennsylvania, Delaware, California, Florida and more.
With offices in Beverly and Westford, Mass., the agency provides comprehensive advice in all areas of insurance and benefit needs such as property and casualty programs, employee benefit solutions, buy/sell agreements, bonds and investment services.
Under the terms of the acquisition, Appleby & Wyman will become a wholly-owned subsidiary of Cross Financial Corp. and will continue to operate under the same name. Appleby & Wyman executives will continue to manage the Beverly and Westford offices.
Lisa Marciano will serve as president, Christine Sciola and Mary Ann Dignan will serve as vice presidents, Stephanie Murphy will serve as assistant vice president and Carmen Marciano, former chairman of the Board, will assume the position of senior management advisor. The agency’s staff will serve existing and new customers to continue building upon its existing relationships.
“With the addition of Appleby & Wyman’s two locations, Cross Insurance greatly bolsters its presence in the Massachusetts marketplace,” said Jonathan Cross, chief operating officer of Cross Insurance, in a company press release.
Over the past 60 years, Cross Insurance has acquired more than 120 insurance agencies, he added. Cross Insurance owns and operates 15 additional agencies in Massachusetts, including offices in Duxbury, Braintree, Norwell, Weymouth and Quincy, two offices in Boston, three on the North Shore, two in Metrowest and three in Western Massachusetts.
Financial terms of the acquisition are not being disclosed.
Source: Cross Insurance
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