Union Bay Acquisition LLC Acquires Cornerstone Insurance Services

Union Bay Acquisition LLC Acquires Commercial Insurance Business of Brookside Insurance

August 11, 2024

Financial Services

Union Bay Acquisition LLC has acquired the commercial insurance business of Brookside Insurance, an Allentown, Pennsylvania-based insurance agency. The terms were not disclosed; Union Bay said this is its fourteenth acquisition as it continues to consolidate regional property-casualty agencies to expand its platform and capabilities.

Union Bay Acquisition LLC Acquires Loyalhanna Insurance Group

December 12, 2024

Insurance

Union Bay Acquisition LLC, an aggregator of property-casualty insurance agencies, has acquired the assets of Loyalhanna Insurance Group of Latrobe, Pennsylvania. The deal — Union Bay's sixteenth acquisition and seventh in Pennsylvania — expands the buyer's reach into the Pittsburgh and greater Western Pennsylvania insurance markets; terms were not disclosed.

Union Bay Acquisition LLC Acquires Farrell Insurance Associates Inc.

September 21, 2022

Insurance

Union Bay Acquisition LLC, an aggregator of property-casualty insurance agencies, has acquired Farrell Insurance Associates Inc., an independent insurance agency based in Lansdale, Pennsylvania. Terms were not disclosed; the deal expands Union Bay's presence and expertise in the greater Philadelphia area as part of its strategy to acquire small regional insurance agencies.

Union Bay Acquisition LLC Acquires LaBrozzi Insurance Group, Inc.

November 8, 2022

Insurance

Union Bay Acquisition LLC, an aggregator of property-casualty insurance agencies, has acquired LaBrozzi Insurance Group, Inc., a Bradford, Pennsylvania-based independent insurance agency. The transaction expands Union Bay's Northeast footprint and adds local P&C insurance expertise to its Union Bay Risk Advisors portfolio; terms were not disclosed.

Arthur J. Gallagher & Co. Acquires Cornerstone Commercial & Personal Insurance Services, Inc.

July 1, 2024

Insurance

Arthur J. Gallagher & Co. acquired Rancho Cucamonga, California–based Cornerstone Commercial & Personal Insurance Services, Inc.; terms were not disclosed. Cornerstone’s founders Phil and Allison Hakopian and their team will remain in place, joining Gallagher’s Southwest retail property/casualty brokerage under Scott Firestone to strengthen Gallagher’s homeowners association and regional commercial insurance capabilities.

Princeton Bancorp Acquires Cornerstone Financial Corporation

January 18, 2024

Financial Services

Princeton Bancorp, Inc., the parent of The Bank of Princeton, agreed to acquire Cornerstone Financial Corporation, the holding company of Cornerstone Bank, in a stock-and-cash merger valued at approximately $17.9 million. The deal, approved by both boards, will add Cornerstone’s ~ $321 million in assets and six branch locations to Princeton’s footprint in southern New Jersey and is expected to close in mid-2024 pending regulatory and shareholder approvals.