Bangor’s Cross Insurance acquires Watson Insurance Agency of N.H.

Posted Sept. 21, 2011, at 1:25 p.m.

BANGOR, Maine — Cross Insurance, a Bangor-based subsidiary of Cross Financial Corp., announced Wednesday that it has acquired Watson Insurance Agency of Manchester, N.H.

Watson’s two-story building in downtown Manchester will merge with several of Cross’ area offices to form Cross Insurance Manchester. The new building features more than 60,000 square feet of space. Cross Insurance Manchester will be one of the largest insurance offices in northern New England and will house 75 of Cross’ 500 employees.

Watson Insurance Agency provides insurance and risk management services for commercial property and casualty insurance, personal insurance and employee benefits, similar to the services Cross provides.

“Jim Watson has an outstanding team behind him and a great client list, including over 60 franchised auto dealerships and some very distinguished contractors,” Cross executive Royce Cross said. “I’m very excited about including Jim and his crew in our new building.”

Cross Insurance was founded in 1954, and the privately held firm employs more than 500 people. It is one of New England’s largest insurance firms.

In March 2011, Cross Insurance acquired Mazonson Insurance in Wakefield, Mass. It also acquired Thomas Gregory Associates Insurance Agency in May.