Cross Insurance reported it has acquired Maine Insurance Agency of Portland.
The acquisition of Maine Insurance Agency, a fifth-generation family-owned business, expands the coastal region division of Cross.
Founded in l905, Maine Insurance Agency offers insurance for homes, autos, recreational products and small businesses. The agency’s two offices in Portland and Gray will be rebranded under the Cross Insurance name. Cross said it will retain Jeff Steinman, president and CEO, and all personnel affiliated with the agency.
Dave Messersmith, president of Cross Insurance-Coastal Region, said the firm plans to continue to expand in the coastal region.
Cross acquired three Massachusetts agencies this year: Northern Benefits, Harold Humphrey Agency and Byfield Agency. Cross also opened a Newburyport, Mass. branch office, further bolstering its presence in the coastal market.
Maine-based Cross owns more than 120 insurance agencies throughout the Northeast. The company now has 1,000 employees in Maine, New Hampshire, Vermont, Rhode Island, Massachusetts, Connecticut, New York and Florida.
Topics Mergers & Acquisitions Maine
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