A look at statistics showing how the insurance industry fared in consumer class action settlements.
April 09--Cross Insurance, a subsidiary of Cross Financial Corp., agreed to acquire Troy, Pires & Allen Insurance, a 78-year-old agency based in East Providence.
Troy, Pires & Allen Insurance will operate under the Cross Insurance name and Gregory Troy, a TPA partner, will be president of the merged agency.
Also, Shove Insurance, Inc., a 155-year-old, Rhode Island-based agency affiliated with Troy, Pires & Allen was purchased by Cross Insurance. Shove Insurance's former partners, William Hunt and David Francis, will remain with the new organization as producers.
Terms of the deals, effective immediately, were not disclosed. The agreement marks the fourth acquisition in New England this year for Cross, a family-owned agency based in Bangor, Maine. (Journal Staff)
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