Cross Insurance acquires Massachusetts employee benefits firm
Bangor-based Cross Insurance, a subsidiary of Cross Financial Corp., has acquired Northern Benefits of Massachusetts in a move to increase the Maine company's geographic reach and employee benefits expertise.
Terms were not disclosed in a news release announcing the deal Tuesday.
Northern Benefits, based in Marlborough, Mass., specializes in employee benefits, providing customized benefits brokerage and compliance awareness services to small and mid-sized companies in Massachusetts.
“We are delighted to welcome the well-known Northern Benefits of Massachusetts to the Cross Insurance family of agencies,” said Dave Messersmith, president of Cross Insurance-Coastal Region. “With the acquisition of Northern Benefits, we further strengthen our employee benefits product expertise.”
Northern Benefits offices will remain in Marlborough while operating as part of Cross Insurance-Coastal Region. Jay Sinacole and Allan Nassif will remain with the office, working closely with the existing and new client base.
“We look forward to the future growth opportunities Cross Insurance will bring,” said Sinacole, who is vice president of Northern Benefits of Massachusetts. “One of the many aspects of Cross Insurance is that they have a wealth of resources that Northern Benefits will be able to tap into including compliance, legal, HR, and technology vendors. In addition, we’ll be able to focus more on our clients rather than on operations.”
Since its founding in 1954, Cross Insurance has grown extensively through the acquisition of more than 120 insurance agencies throughout the Northeast. The company now has over 1,000 employees operating out of offices in Maine, New Hampshire, Rhode Island, Massachusetts, Connecticut, New York and Florida.
Family-owned and -operated, Cross Insurance provides a range of customized insurance and financial products including personal and commercial insurance lines, employee benefits, surety bonds, comprehensive risk management advice and counsel.
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