Patriot Growth & FBinsure Acquire Rhode Island Insurance Group
Patriot Growth once again is growing its presence in the New England region. The national insurance services firm, through its New England partner FBinsure, announced its acquisition of three Rhode Island insurance agencies. The three agencies, Maggiacomo Insurance, Hanuschak Insurance, and Gilmartin Insurance, all part of the Rhode Island Insurance Group, have agreed to join the Patriot platform in the Northeast.
In commenting on the new additions, Nicole Martorana, President of FBinsure said, “We are excited to have the Maggiacomo, Hanuschak & Gilmartin Insurance Agencies join the FBinsure team. We have been seeking the right partners in Rhode Island for several years and this group of like-minded agencies share our approach to client-focused service and an appreciation for the Patriot model. Joining FBinsure, alongside the team at Patriot, reflects a desire to propel their agencies forward while maintaining relationships and delivering more to their clients. I’m confident this decision will strengthen our agency and our presence across Southern New England.”
Additions bring a wealth of experience to the Patriot Growth platform in New England
Each of the agencies joining FBinsure and Patriot Growth bring a decades-long family-owned legacy to the team. Providence’s Maggiacomo Insurance was founded in the early 1930s and is now under the leadership of third generation owner Tom Maggiacomo. Warwick based Gilmartin Insurance, was founded in 1960 by Joseph Gilmartin Jr. and has been led by Joesph (Joe) Gilmartin III since 1995. Finally, Hanuschak Insurance has been serving clients since 1954 and is under the leadership of Dave Hanuschak in Cumberland.
In 2005, the Rhode Island Insurance Group was established “in 2005 “…to bring together the experience and expertise of several Rhode Island family-owned insurance agencies into one dynamic company serving the insurance interests of Rhode Islanders and Southern New Englanders.” Collectively, the Rhode Island Insurance Group provides personal and commercial insurance solutions to over 4,000 clients. The three agency owners and their team of insurance professionals have joined FBinsure, ensuring their clients experience a smooth transition and consistent, familiar service.
FBinsure’s double-digit acquisition list since 2008
With the addition of these three Rhode Island-based agencies, Fbinsure has completed 17 agency acquisitions since 2008. These additions will aid its plans to continue expanding the agency’s footprint into Rhode Island while strengthening Patriot’s existing property & casualty insurance capabilities in the New England marketplace.
About FBinsure:
FBinsure is an independent insurance agency in partnership with Patriot Growth Insurance Services, that provides tailored solutions for personal and commercial insurance needs. Through understanding the unique needs of an individual or business and employing innovative strategies and technology, FBinsure can offer superior insurance programs and risk advisory services.
The Agency, which enjoys the prestigious Five-Star Agency Designation℠ from the Massachusetts Association of Insurance Agents, is committed to providing clients with the best insurance value and service available while maintaining the highest ethical standards and credibility with clients, carriers, and the public. The agency has fourteen locations serving Southeastern Massachusetts & Rhode Island in Taunton, Attleboro, Middleboro, Dighton, Rehoboth, East Freetown, New Bedford, Dartmouth, Fall River, Avon, Falmouth, Providence, Warwick, and Cumberland. FBinsure has 145 employees and a client base of over 35,000 personal and commercial clients.
About Patriot Growth Insurance Services
Founded in 2019, Patriot is a growth-focused national insurance services firm that partners with employee benefits and property and casualty agencies across the United States. Patriot is ranked as the 26th largest broker in the U.S. by Business Insurance and has been named to the 2023 Inc. 5000 list of fastest-growing companies. With more than 1,800 employees operating in 132 locations across 26 states, Patriot’s collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. Patriot creates true alignment with its partner agencies, and its operating philosophy fosters enhanced career opportunities for its dedicated and professional team. Patriot is backed by GI Partners and Summit Partners. For more information, please visit www.patriotgis.com.
