Cross Insurance of Bangor has acquired Boston-based insurance agency Knapp Schenck & Co. for an undisclosed sum, the company said Monday.
Cross, a subsidiary of Cross Financial Corp. and one of the largest independent insurance providers in New England, said that under the purchase agreement, Knapp Schenck will retain its name and continue to operate with the same staff and leadership. The firm will continue to operate out of its headquarters in Boston’s financial district, and from its branch office in Braintree, Massachusetts.
Founded in 1921, Knapp Schenck is large, regional property and casualty retail insurance agency that provides insurance services to both commercial and individual clients.
Since its founding in 1954, Cross Insurance has grown extensively through the acquisition of more than 100 insurance agencies throughout New England. The company now has 700 employees operating out of offices in Maine, New Hampshire, Rhode Island, Massachusetts, Connecticut and Florida.
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