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Eastern Insurance Acquires Massachusetts’ Southeastern Insurance Agency
Eastern Insurance Group LLC, a Natick, Mass.-headquartered, wholly-owned subsidiary of Eastern Bank, has acquired the assets of the Southeastern Insurance Agency Inc., a full-service insurance agency with locations in North Dartmouth and Hyannis, Mass.
The deal is expected to provide the customers of Southeastern with access to a range of insurance choices, services and capabilities, according to Eastern Insurance President and CEO Hope A. Aldrich in a company press release.
Southeastern Chairman Brad Lowe and President Lora Lowe FitzGerald added in the release that the combination will allow Southeastern to bring the resources of a large firm to its clients without sacrificing individual attention.
The transaction was effective January 1, 2018, when all of Southeastern’s staff became Eastern employees. Eastern will rebrand Southeastern’s offices over the next six-to-12 months and has plans for the acquired operation to continue to expand in the Dartmouth, New Bedford, Fall River and Cape Cod, Mass., areas under Lowe and FitzGerald’s leadership.
The deal marks the 41st acquisition for Eastern Insurance.
Source: Eastern Insurance Group