Financial terms of the transaction are not being disclosed. Jay Driscoll with continue as president of the Driscoll Agency, and all of Driscoll’s personnel will be retained by Cross Insurance.
Cross Insurance is a subsidiary of Cross Financial Corp., one of the largest insurance providers in New England with more than 600 employees in more than 30 offices. Cross is headquartered in Bangor, Maine. Since its founding in 1954, Cross Insurance said it has grown extensively through the acquisition of more than 100 insurance agencies throughout New England.
“The acquisition of The Driscoll Agency is integral to the future growth of Cross Financial Corp., particularly in terms of our surety bond offerings,” Royce Cross, chief executive of Cross Insurance, said in a statement. “Working under the Cross banner, The Driscoll Agency customers will continue to receive the same level of individual attention and personalized service offerings that have made this agency an established familial staple in the insurance marketplace for more than 50 years.”