Holden AgencyActed as exclusive financial advisor to the Holden Agency in its sale to Cross Insurance. Founded in 1955, the Holden Agency is a longstanding independent agency based in Portland, ME. Holden provides employee benefits and property and casualty products to commercial and personal lines clients. Headquartered in Bangor, ME, Cross Insurance saw the acquisition as a tremendous opportunity to expand its operations in Maine. Holden executives Thomas Holden and John Benoit will continue to serve and assist with management of the business.
Acted as exclusive financial advisor to N-Surance Outlets in its sale to Ryan Specialty Group. N-Surance Outlets (NSO) is a wholesale insurance brokerage and binding authority operation headquartered in Roswell, GA with a branch office in Tarpon Springs, FL. Founded in 1985, NSO specializes in commercial P&C, transportation and garage risks, servicing over 1,000 agents in the Southeast. Jason Murrey, President of NSO, and his team will continue to service and expand their client base.
A. E. Barnes Insurance Agency
Acted as exclusive financial advisor to A. E. Barnes Insurance Agency in its sale to Cross Insurance. Based in South Weymouth, MA, A. E. Barnes is one of the leading independent agencies in the South Shore region. Founded in 1915, the agency provides products and services for its varied clientele, including both small and large commercial and personal lines clients. Former owners Preston Hoffman and Geoffrey Hoffman will continue to manage the South Weymouth office and will continue to serve as President and Vice President, respectively.
Cincinnati Equitable Life Insurance Company
Acted as exclusive advisor to Cincinnati Equitable Life Insurance Company (CELIC) in its announced sale to Global Bankers Insurance Group. CELIC provides life insurance products and related services through the funeral industry, emphasizing the integration of advance funeral planning as an extension of the funeral arrangement service. CELIC has maintained a presence in the preneed insurance marketplace for over a decade and is one of the market leaders in its operating region. Global Bankers Insurance Group is a consortium of insurance and reinsurance companies, focusing on life insurance and annuities. Some of its members include Bankers Life Insurance Company, Colorado Bankers Life Insurance Company, and Southland National Insurance Corporation. Global Bankers’ extensive capital and technological resources will support CELIC’s plans to modernize its policy and service administrative platforms and enhance its product portfolio to better serve its existing and future policyholders.
Peter M. Bakker Agency
Acted as exclusive financial advisor to Peter M. Bakker Agency, Inc. in its sale to Renaissance Alliance Insurance Services. Based in Avon, CT, the Bakker Agency is a long-standing New England retail agent with a strong, balanced portfolio of personal and commercial clients. Renaissance Alliance is a Wellesley, MA-based coalition of independent agencies, insurers, and service providers who provide insurance services and products to personal and commercial insureds throughout New England. The acquisition creates a Connecticut-based hub for Renaissance Alliance, furthering its commitment to growing its member network and strengthening its service capabilities to independent agencies in New England and beyond. The Bakker Agency will remain an independent agency under the Chairmanship of Renaissance Alliance President J. Bruce Cochrane. Peter M. Bakker, Sr. will be special assistant to the Chairman and John T. Maschi will remain as President of the Bakker Agency, reporting directly to Cochrane.
Auto-Owners Insurance Company
Acted as as the exclusive advisor to Auto-Owners Insurance Company in its affiliation with the Concord General Mutual Insurance group of companies. Concord is a personal lines-focused property and casualty insurer that operates exclusively through independent agents in NH, VT, ME and MA. Based in Lansing, MI, Auto-Owners is a Fortune 500 multi-line insurance company that operates through almost 6,300 independent agents in 26 states. The affiliation will expand Auto-Owners’ geographic reach with a premier New England platform. Concord will be able to grow its commercial product offerings as a result of the affiliation, strengthening agency relationships and adding greater overall value as a result.
MJ Kelly Company
Acted as the exclusive financial advisor to MJ Kelly Company (MJK) in its sale to JenCap Holdings. MJK is a managing general agency and wholesale insurance brokerage based in Springfield, MO with offices in nine states throughout the Midwest and Southeast. Since 1986, MJK has been owned and operated by Jim Adams who was joined by his sons Jon and Paul in 1987 and 1989, respectively. MJK places business with more than 200 admitted and non-admitted markets through more than 5,000 independent agents in 26 states. In conjunction with the transaction, Jon Adams will move into the position of President of MJK and Paul will take on the responsibility of Branch Manager of the Springfield office. Jim Adams will remain in an advisory capacity.