New England’s Foy Insurance Group has been acquired by national broker World Insurance Associates.
The Foy agency, headquartered in Exeter, New Hampshire, has been doing business in New Hampshire for more than 100 years. Today it is one of New England’s largest insurance agencies, with offices in New Hampshire, Maine and Massachusetts.
The family-run agency provides personal and commercial insurance, as well as special programs including equine insurance and sports insurance. Mike Foy, president, said that as part of World, the agency will have access to more products and services to meet customers’ insurance needs.
Terms of the transaction were not disclosed.
James M. Foy began his insurance career with Fireman’s Fund in Boston. He joined Bud Collishaw at long-time agency Elwell-Collishaw in Exeter in 1968. He helped double the size of the agency within a year and acquired 50% ownership.
The agency began acquiring small local agencies. These included Poliquin Agency with its three offices in Nashua, Salem, and Manchester, an acquisition that increased the size of the agency group by 75%. In recent years the agency has opened two new offices in Massachusetts, four in New Hampshire, and one in Maine.
Today, in addition to James, the agency’s management team includes Mike, Jeff and Scott Foy, along with Dan Mariotti, Denise Stark, Mike Calzone and Peter Camello.
World Insurance Associates is headquartered in Iselin, N.J. Since its founding in 2011, World has completed more than 200 acquisitions and serves its customers from more than 250 offices across the country. World is ranked #15 on the Top 100 P&C Agencies by Insurance Journal, ranked #19 on the Top 50 Personal Lines Agencies and ranked #19 on the Top 50 Commercial Lines Agencies by Insurance Journal.
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