Sadler Insurance To Be Folded Into Cross Insurance
|By Dave Solomon, The New Hampshire Union Leader, Manchester|
|McClatchy-Tribune Information Services|
As his retirement date approached, Bruinooge reviewed his succession plans.
"I wrote it all down," he said, "that if I didn't have things figured out exactly how I was going to transition the ownership for the agency internally, and if I didn't have all the right people in place by age 62, that I would consider Option B."
Bruinooge will turn 62 in December, and Option B has been put into action, as the agency shuts down its
Friday is moving day, Bruinooge said, as the 21 full- and part-time employees of what was
Cross has been expanding aggressively since its founding in 1954, and now is the largest regional broker in the northeast, with 30 offices in
Sadler had always been family owned, and Bruinooge was attracted to the family ownership of the Cross company, started in 1954 by
Like Sadler, Cross is an independent broker, providing personal insurance, business insurance and employee benefit programs from a variety of insurance carriers.
"They represent just about all of them," said Bruinooge.
The size of Cross, and its ability to deal with challenges facing the insurance industry, was important to Bruinooge.
"The landscape is changing and there is some opportunity, but there is also some risk out there, particularly for a smaller agency," he said. "We certainly don't have the resources that a
Many of those plans will focus on adapting to the new rules and regulations for health insurance in the Affordable Care Act. "Did that play into the scenario? Yes." Bruinooge said. "Was it a driving factor? Absolutely not."
Cross, with 15 times as much business, is better positioned to deal with complexity in the insurance business across the board, health care included, he said.
Bruinooge will make the transition to
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