Today, Cross Insurance, a subsidiary of Cross Financial Corp., and one of the largest independent insurance providers in New England, has announced the assets acquisition of The Insurance Exchange, Inc. of Stamford, Connecticut to broaden the firm’s service offerings and ongoing strategic expansion plans.
The acquisition of The Insurance Exchange, an independent, family-owned insurance agency, marks Cross Insurance’s first move into the Connecticut insurance market. Founded in 1985 by Michael and Ronnie Wiederlight, The Insurance Exchange currently produces both personal and commercial property and casualty insurance with a wide variety of commercial classes of business.
The full-service agency currently serves the personal and professional needs of individuals, families and business concerns in Fairfield County, Conn., Westchester County, NY and adjacent areas in several states.
Additional terms of the acquisition are not being disclosed.
This acquisition follows Cross Insurance's recent assets acquisition of Willis of Northern New England, Inc., a Maine-based insurance brokerage leader.
Since its founding in 1954, Cross Insurance has grown extensively through the acquisition of more than 100 insurance agencies throughout New England.