In fully transparency, the following is a press release submitted to SOURCE via its business wire service.
NATICK – Eastern Insurance Group LLC, a wholly owned subsidiary of Eastern Bank, announced today, May 3, it has acquired the operating assets of the Barr Insurance Agency, Inc., a full-service, family-operated insurance agency headquartered in Watertown.
The transaction is effective May 1, 2021 and marks the 34th acquisition of an independent insurance agency for Eastern Insurance since 2002.
Barr Insurance has assisted individuals and businesses with personal and business insurance coverages for more than 50 years.
“Barr Insurance has been known for providing both individuals and businesses with a large assortment of coverages, from automobiles to homes and commercial lines. It has had excellent client retention with many long-term customers, and we look forward to welcoming them to EIG,” said John Koegel, President and CEO of Eastern Insurance Group LLC.
Marianne Jenkins, President of Barr Insurance, added, “After serving our valued clients for the past five decades, we are excited for the new opportunities that will be available to them through the highly regarded Eastern Insurance team.”
Eastern Insurance Group LLC, headquartered in Natick, 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.
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 March 31, 2021, Eastern Bank had approximately $17 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 LLC subsidiary. Eastern takes pride in its outspoken advocacy and community support that includes $240 million in charitable giving since 1994. An inclusive company, Eastern employs approximately 1,900 deeply committed professionals who value relationships with their customers, colleagues and communities.