Eastern Insurance Group LLC Acquires Assets Of Campbell, Flaherty & Ring Insurance Agency, Inc.
December 01 2020 - 10:15AM
Business Wire
Eastern Insurance Group LLC, a wholly owned subsidiary of
Eastern Bank, announced today that it has acquired the assets of
the Campbell, Flaherty & Ring Insurance Agency, Inc., a
family-owned insurance agency based in Massachusetts. The
transaction is effective December 1, 2020 and marks the 32nd
acquisition of an independent insurance agency for Eastern
Insurance since 2002.
For over sixty years, Campbell, Flaherty & Ring has assisted
residents in the greater Boston area with providing exceptional
customer service for their home and automobile insurance. “Our team
is looking forward to building on the great relationships that
Campbell Insurance has made with their customers around their
personal lines of insurance and to continuing to provide the
highest quality customer service experience,” said John Koegel,
President and CEO of Eastern Insurance Group LLC.
David Campbell, owner of Campbell, Flaherty & Ring Insurance
Agency, Inc., also announced his retirement from a decades-long
career in the insurance industry. He added, “Eastern Insurance is
as passionate about excellence in customer service and commitment
to the community as I am, and I am confident customers will benefit
from the additional insurance choices and services being made
available to them.”
About Eastern Insurance Group LLC Eastern Insurance Group
LLC, headquartered in Natick, Massachusetts, is a wholly-owned
subsidiary of Eastern Bank. Licensed to do business in every state,
Eastern Insurance serves more than 75,000 individuals and
businesses and provides a full range of personal and commercial
insurance products, as well as employee benefits services.
Representing more than 50 national and regional insurance carriers,
Eastern Insurance is recognized as one of the largest insurance
agencies headquartered in Massachusetts and the 30th largest
property and casualty agency in the United States. For more
information, visit www.easterninsurance.com.
About Eastern Bank Founded in 1818, Boston-based Eastern
Bank has more than 110 locations serving communities in eastern
Massachusetts, southern and coastal New Hampshire, and Rhode
Island. As of September 30, 2020, Eastern Bank had approximately
$15.5 billion in total assets. Eastern provides banking, investment
and insurance products and services for consumers and businesses of
all sizes, including through its Eastern Wealth Management division
and its Eastern Insurance Group subsidiary. Eastern takes pride in
its outspoken advocacy and community support that has exceeded $140
million in charitable giving since 1999. An inclusive company,
Eastern employs 1,800+ deeply committed professionals who value
relationships with their customers, colleagues and communities.
Join us for good at www.easternbank.com and follow Eastern on
Facebook, LinkedIn, Twitter and Instagram. Eastern Bankshares, Inc.
(the “Company”) (Nasdaq Global Select Market: EBC) is the stock
holding company for Eastern Bank. For investor information, visit
investor.easternbank.com.
Statements in this press release regarding Eastern Insurance’s
future operating results, growth, business plans and prospects, as
well as any other statements that are not related to present facts
or current conditions or that are not purely historical, constitute
forward-looking statements. These forward-looking statements are
based on the historical performance of Eastern Insurance and the
Campbell, Flaherty & Ring Insurance Agency, Inc., and their
respective plans, estimates and expectations as of the date of this
release. Forward-looking statements include statements regarding
anticipated future events and can be identified by the fact that
they do not relate strictly to historical or current facts. They
often include words such as “believe,” “expect,” “anticipate,”
“estimate,” and “intend” or future or conditional verbs such as
“will,” “would,” “should,” “could,” or “may.” Forward-looking
statements, by their nature, are subject to risks and
uncertainties. Certain factors that could cause actual results to
differ materially from expected results include developments in the
Company’s market relating to the Covid-19 pandemic, including the
severity and duration of the associated economic slowdown, adverse
developments in the level and direction of loan delinquencies and
charge-offs and changes in estimates of the adequacy of the
allowance for loan losses, increased competitive pressures, changes
in the interest rate environment, general economic conditions or
conditions within the securities markets, and legislative and
regulatory changes that could adversely affect the business in
which the Company and Eastern Bank are engaged.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201201005830/en/
Media contact: Andrea Goodman Eastern Bank
a.goodman@easternbank.com 781-598-7847
Investor contact: Jill Belliveau Eastern Bankshares, Inc.
InvestorRelations@easternbank.com 781-598-7920
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