J. Edward Knight Insurance in Boothbay Harbor acquired the David Chapman Insurance Agency in Damariscotta, with an effective date of June 15.
The buyer has 35 employees, Katie Chilles, the company’s CFO, told Mainebiz. Chapman had one employee, the owner, Sarah Worster, who is not joining Knight.
Knight acquired the policy rights for Chapman’s clients and worked with the landlord of Chapman’s office to continue to lease the space.
Long-time agencies
Established in 1898, Knight is headquartered at 157 Townsend Ave. in Boothbay Harbor, with additional offices in New Harbor, Vinalhaven, Rockland, Bath and Wiscasset.
Founded in 1937, Chapman is a three-generation agency established by David Chapman, a local farmer who began offering insurance to supplement his farm income and fill a need in the community.
Operating out of his farm on U.S. Route 1, Chapman was one of the first agents to represent what would become the Concord Group Insurance Co. Over the decades, the agency grew, passing from David Chapman to his daughter Mary and her husband John Gallagher, and later to their daughter Sarah, who became the third generation to lead the agency.
“We have great respect for the history and relationships that the David Chapman Insurance Agency has built over the years,” said Robert Wheeler, president of J. Edward Knight Insurance. “Our goal is to honor that legacy while continuing to provide the same level of personalized service clients have come to expect.”
Chapman clients will have no immediate changes to their policies or coverage. Knight said it will build relationships first, while also offering expanded resources, additional carrier options and enhanced support.
Knight will continue operating the 372 Main St., Damariscotta office formerly occupied by Chapman. Clients began receiving communication regarding the transition on May 1.
