In full transparency, the press release was submitted to SOURCE media through its business wire service.
NATICK – Eastern Insurance Group LLC, a wholly owned subsidiary of Eastern Bank, announced today, August 8, it has acquired the operating assets of the John T. Burns Insurance Agency, Inc, a full-service insurance agency located in Newtonville.
The transaction is effective August 1, 2022 and marks the 36th acquisition of an independent insurance agency by Eastern Insurance since 2002 and its second this year.
The cost of the sale was not disclosed.
Family owned and operated since 1892, Burns Insurance has been a staple in its community with a reputation for providing customers with quality, personalized service. Steven Oakes, President of Burns Insurance, commented, “We are proud of what we have built in our community offering our customers the best service and welcoming them as part of our family. Now, with more choices to extend to our personal and commercial customers, and with the breadth and historic strength of Eastern Insurance, we will be better equipped to serve those customers in the future.”
“Burns Insurance has been known for their strong customer relationships for over a hundred years. Steve Oakes and Ed Timmerman have worked closely with many long-standing customers who we look forward to welcoming to Eastern Insurance Group,” said Tim Lodge, President and CEO of Eastern Insurance Group LLC.
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.
Founded in 1818, Boston-based Eastern Bank has more than 120 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island.
As of June 30, 2022, Eastern Bank had approximately $22 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 2,100 deeply committed professionals who value relationships with their customers, colleagues, and communities.