Salem Five, a commercial and personal insurance provider based in Salem, Mass., has acquired Fabri & Rourke Insurance, headquartered in Georgetown, Mass.
This is the second Georgetown-based acquisition for Salem Five, having acquired Georgetown Bank in 2017. Salem Five has recently completed several additional acquisitions, acquiring the Otis Brown Insurance Agency in 2016 and Cape Ann Insurance earlier this year.
Fabri & Rourke will relocate its four employees to Salem Five’s Georgetown location following the acquisition. The agency will now be known as Fabri & Rourke Insurance, a division of Salem Five Insurance LLC, and will focus exclusively on commercial insurance.
Salem Five Insurance will offer Fabri & Rourke customers broader access to products and carriers while maintaining the personalized service and relationships of an independent agency.
Fabri & Rourke Insurance was founded in 2000 by William Fabri Jr. and Kevin Rourke. In 2005, Rourke, who now leads Salem Five’s Commercial Banking division, sold his share of the business to Fabri, who will continue to lead the agency.
Source: Salem Five
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