Cross Insurance has completed its fifth acquisition so far this year, the company said Monday.
The Bangor-based insurance agency, a subsidiary of Cross Financial Corp. and one of the largest independent insurance providers in New England, purchased Merchant, Needham & Associates Insurance, an insurance agency based in Northeast Harbor specializing in business, home and vehicle insurance for customers throughout Hancock, Washington, Penobscot and Knox counties.
Details of the acquisition were not disclosed.
Merchant, Needham & Associates will operate as a member of Cross Insurance but will retain both its name and nine-member staff, the company said.
Cross Insurance is a family-owned company with more than 650 employees in more than 35 offices, serving 100,000 customers throughout New England.
The purchase of Merchant, Needham & Associates marks the fifth acquisition this year for Cross Insurance. It also acquired Troy, Pires & Allen Insurance of East Providence, Rhode Island; The Driscoll Agency of Norwell, Masssachusetts; The Insurance Exchange of Stamford, Connecticut; and Willis of Northern New England.
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