Eastern Insurance Group Acquires Auburn Insurance Agency

Eastern Insurance Group Acquires Operating Assets of John T. Burns Insurance Agency

August 1, 2022

Insurance

Eastern Insurance Group LLC, a wholly owned subsidiary of Eastern Bank, has acquired the operating assets of the John T. Burns Insurance Agency, Inc., an independent, family‑owned insurance agency based in Newtonville, Massachusetts. The asset acquisition (effective August 1, 2022) expands Eastern Insurance's footprint and client base as part of its ongoing strategy of acquiring independent agencies.

Arthur J. Gallagher & Co. Acquires Eastern Insurance Group

September 19, 2023

Insurance

Arthur J. Gallagher & Co. signed a definitive agreement to acquire Natick, Massachusetts-based Eastern Insurance Group, LLC (a subsidiary of Eastern Bank) for $510 million (net of seller-funded expenses). The acquisition, expected to close in late 2023 and now completed, expands Gallagher’s commercial property/casualty, personal lines and employee benefits capabilities across the Northeast U.S.; Eastern Insurance reported pro forma trailing-12-month revenues of approximately $104 million and EBITDAC of $37 million.

IMA Financial Group Acquires EBS Insurance Brokers

December 19, 2023

Insurance

Denver-based IMA Financial Group has acquired EBS Insurance Brokers, a Newton, Massachusetts–based employee benefits brokerage. The deal expands IMA's presence in Massachusetts and strengthens its employee benefits capabilities for employer clients across New England.

Relation Insurance Services Acquires SouthEast Agency LLC Assets

July 14, 2021

Insurance

Relation Insurance Services, a PE-backed national insurance brokerage, acquired the assets of Connecticut-based SouthEast Agency LLC. The acquisition — terms undisclosed — adds SouthEast’s P&C expertise (contractors, commercial transportation, hospitality and real estate) to Relation’s East Region, with Jay Lorinsky remaining in a leadership role.

Choice Financial Group Acquires Ashley & Associates Insurance Agency

November 30, 2021

Insurance

Choice Financial Group, a portfolio company of Northlane Capital Partners, acquired Norfolk, Virginia-based Ashley & Associates Insurance Agency. The acquisition adds a partner agency to Choice's portfolio to expand its presence in southeastern Virginia and provide Ashley & Associates with Choice's resources, carrier relationships, and technology; Chris Miles has been named President of Ashley & Associates.

Northeast Coverages Acquires AUI Inc.

November 3, 2020

Insurance

Northeast Coverages Inc., a New York-based wholesale/MGA, has acquired AUI Inc., an Austin-based managing general agency and surplus lines broker. Stonybrook Capital advised Northeast Coverages on the transaction and Stonybrook Risk Management served as the exclusive reinsurance intermediary. The deal expands Northeast Coverages' distribution into the U.S. Southwest and adds AUI's commercial property, liability and niche lines such as liquor liability.