Cross Insurance, an independent insurance agency based in Bangor, Maine, announced it has acquired Schonning Insurance, an independent agency in Westerly, Rhode Island. Terms of the transaction were not disclosed.
Schonning Insurance represents more than a dozen insurance companies for the firm’s business, personal, life and disability insurance customers. Currently owned by President Stephen Schonning, the family-owned agency was established in 1987 by Roger and Eunice Schonning, and offers insurance products and services to clients in Southern Rhode Island and Southeastern Connecticut.
Schonning Insurance and the firm’s six employees, including President Stephen Schonning, will continue to operate as Schonning Insurance, and ultimately transition and operate under the Cross Insurance brand, the announcement said.
Founded in 1954, Cross Insurance, a subsidiary of Cross Financial Corp., is an independent insurance agency with 700 employees in more than 35 offices, serving 100,000 customers throughout the New England region.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
IBM Agrees to Pay Government $17 Million in DEI Settlement 
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
Convicted Insurance Mogul Lindberg Should Pay $1.6B Restitution to Companies 
Viewpoint: Why Brokers Have Little to Fear and Everything to Gain From AI 
