BANGOR, Maine — Cross Insurance, a subsidiary of Cross Financial Corp., and one of the largest independent insurance providers in New England, has announced the acquisition of The Driscoll Agency, Inc., an independent insurance agency based in Norwell, Mass., specializing in professional risk management services and surety bonding, effective immediately.
The strategic alliance between Cross and The Driscoll Agency will team two family-owned and operated insurance agencies, and provide additional sales and marketing capabilities to customers serviced from the latter agency’s Norwell office. Under terms of the merger, The Driscoll Agency will operate as a subsidiary of Cross Financial, retaining its name and product line.
Jay Driscoll with continue as President of The Driscoll Agency, and all personnel affiliated with the agency, will be retained by Cross Insurance.
“We are proud to partner with Cross Financial, another successful regional insurance agency that shares our core values, insurance professionalism and most importantly, independent agent access to the marketplace,” said Jay Driscoll, President of The Driscoll Agency, in a press release.
For more than 50 years, The Driscoll Agency has worked to deliver the highest level of insurance expertise, professional risk management services and surety bonding to its clients. Founded in 1960 by J. Barry Driscoll and now run by the second generation of the Driscoll family, The
Driscoll Agency is a leader in the Property & Casualty insurance industry and has represented
hundreds of successful businesses throughout New England.
The Driscoll Agency has also served the construction industry for more than five decades and its training and expertise helps businesses in the construction arena manage risk with innovative insurance and surety products. The Driscoll Agency represents over 100 major contractors throughout New England, providing risk management programs and surety bonding lines of credit.
“The acquisition of The Driscoll Agency is integral to the future growth of Cross Financial Corp., particularly in terms of our surety bond offerings,” said Royce Cross, CEO of Cross Insurance, in a press release. “Working under the Cross banner, The Driscoll Agency customers will continue to receive the same level of individual attention and personalized service offerings that have made this agency an established familial staple in the insurance marketplace for more than 50 years.”
Additional terms of the acquisition are not being disclosed.
Since its founding in 1954, Cross Insurance has grown extensively through the acquisition of more than 100 insurance agencies throughout New England.