Kaplansky swoops for Massachusetts firm

Deal marks agency's 40th deal

Kaplansky swoops for Massachusetts firm

Mergers & Acquisitions

By Ryan Smith

Kaplansky Insurance, one of the largest independent, locally owned insurance agencies in the Northeast, has announced the acquisition of Bridge Insurance Associates, a Newton, Mass.-headquartered agency also known as Massinsurers.

Bridge Insurance Associates was founded by Gerald Baratz in the mid-1960s. It provides business, home and auto insurance. 

“Our agency is proud of our history as an independent agency company and remains committed to the agency channel,” said Ely Kaplansky, president and CEO of Kaplansky Insurance. “Our success is rooted in providing products and services to our agency partners and policyholders, thereby gaining and holding their respect and loyalty. This acquisition is an exciting opportunity to strengthen our position within the independent agency channel while positioning us for future prosperity.”

Kaplansky Insurance will not retain Bridge’s existing location in Newton, and will instead merge the business into its Needham, Mass., headquarters.

With the acquisition of Bridge Insurance, Kaplansky has successfully acquired 40 independent insurance agencies during its four decades in business. Other Massachusetts acquisitions include Dorchester-based Judith M. Flynn Agency and Seekonk-based Russ Towers Agency.

Have something to say about this story? Let us know in the comments below.

Related Stories

Keep up with the latest news and events

Join our mailing list, it’s free!