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Cross Insurance, a subsidiary of Maine-based Cross Financial Corp., and one of the largest independent insurance agencies in New England, recently acquired Skillings Shaw & Associates, a Lewiston, Maine-based bond specialty agency providing fidelity and surety bonds.

Under terms of the acquisition, Skillings Shaw & Associates will operate as an independent subsidiary of Cross Financial, retaining its name and product line.

Robert Shaw will continue as president, and all Skillings Shaw & Associates personnel also will be retained by Cross Insurance.

“As we look ahead and plan for the future growth of Cross Financial Corp., we see the acquisition of Skillings Shaw & Associates as an integral expansion of our surety bond business line. Having a surety-bond only agency provides distinct advantages in the marketplace,” said Royce Cross, CEO of Cross Insurance.

Founded in 1954, Bangor, Maine-headquartered Cross Insurance currently has nearly 500 employees, servicing over 22,000 customers throughout the New England region. The firm provides an extensive range of insurance and financial products including personal and commercial insurance lines, employee benefits, surety bonds, comprehensive risk management advice and counsel, and specialized products focused on higher education and high net worth needs.

Topics Mergers & Acquisitions Excess Surplus Maine