Home Fairfield Maine insurer buys into CT market

Maine insurer buys into CT market

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Bangor, Maine-based Cross Insurance, which bills itself as one of the largest independent insurance providers in New England, recently bought the assets of two insurance brokers, one being The Insurance Exchange Inc. of Stamford.

The other purchase was of Bangor-based Willis of Northern New England Inc.

Terms were not disclosed. Cross Insurance is a subsidiary of Cross Financial Corp.

The acquisition of The Insurance Exchange, an independent, family-owned agency, marks Cross Insurance’s first move into the Connecticut insurance market.

Founded in 1985 by Michael and Ronnie Wiederlight, The Insurance Exchange offers full insurance services “for the personal and professional needs of individuals, families and businesses” in Fairfield County and Westchester County, N.Y., plus nearby states.

Willis of Northern New England operated out of four offices in Maine, individually in the cities of Lewiston, Bangor, New Gloucester and Portland.

Since its founding in 1954, Cross Insurance has acquired more than 100 insurance agencies throughout New England.

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