Cross Insurance, an insurance agency owned by Cross Financial Corp., has acquired East Providence, R.I.-based insurance agency Troy, Pires & Allen Insurance.
TPA will operate under the Cross Insurance name, and TPA partner Gregory Troy has been named president of the merged agency, Bangor, Maine-based Cross Insurance said in a statement Wednesday.
Terms of the transaction were not disclosed.
TPA specializes in a variety of personal and business insurance coverages through more than 25 different insurers, according to the statement.
Cross Insurance also purchased an insurance agency affiliated with TPA, East Providence, R.I.-based Shove Insurance Inc., and former Shove partners William Hunt and David Francis have been retained as producers, the agency said in the statement.
“We see the acquisition of Troy, Pires & Allen Insurance as vital to our expansion in Rhode Island as we plan for the future growth of Cross Financial Corp.,” Royce Cross, CEO of Cross Insurance, said in the statement. “Under the Cross banner, Troy, Pires & Allen Insurance customers can expect to receive a focused product line and a commitment to personal service that have helped solidify our status as northern New England’s largest independent insurance provider.”