The insurance coverage arm of SalemFive Financial institution expands its presence on the North Shore with its newest acquisition
Salem 5 Insurance coverage continues to broaden its geographic footprint on the North Shore with the announcement of its newest acquisition – the A. James Lynch Insurance coverage Company Inc. Based in 1952, the unbiased insurance coverage company has operated for greater than 5 a long time in Lynn and is taken into account one of many space’s most revered insurance coverage companies.
“We now have all the time put our clients and our staff first,” Company President Maura P. Lynch famous. “We all know Salem 5 shares these values and can assist be sure that our clients and staff are taken care of as they’ve all the time been.”
“The partnership will present A. James Lynch clients with extra alternative whereas sustaining the identical nice service that they’ve all the time loved,” defined Andrew Drayer, SVP of Strategic Development for Salem 5 Insurance coverage. Salem 5 Insurance coverage has greater than 60 staff in six places, and companions with dozens of carriers to fulfill the precise private and enterprise wants of its clients.
“We look ahead to serving A.J. Lynch clients and persevering with to offer them with the standard service that they’ve come to anticipate from their insurance coverage company,” mentioned Gerard “Jay” Boyle, President of Salem 5 Insurance coverage.
That is the second company acquisition for Salem 5 Insurance coverage to date this 12 months. Our readers could keep in mind that the corporate acquired Norwood’s Ambrose & Grant Insurance coverage Company again in April.
Salem 5’s plans for Massachusetts
With its strategic appointment of Andrew Drayer as SVP of Strategic Development at first of 2021, Salem 5 signalled a brand new plan to extend its plan to extend its presence all through Massachusetts. Along with specializing in the acquisition of unbiased insurance coverage companies in Massachusetts, Salem 5 additionally has targeted on constructing out its insurance coverage government group with the addition of a new SVP/Director of Insurance Operations, as well as a VP/Director of Analytics. For these fascinated by studying extra about Salem 5 Insurance coverage’s plans, please discuss with our January 2021 interview with Mr. Drayer, “A Q&A With Andrew Drayer: Salem Five Insurance’s New Senior VP For Agency Acquisitions And Strategic Growth.“
Extra about Salem 5 Insurance coverage and Salem 5 Bancorp
Salem 5 Insurance coverage is a subsidiary of Salem 5 Bancorp, which can also be the holding firm of Salem 5 (www.salemfive.com), a mutual financial institution based in 1855.
With virtually $6 billion in belongings and 35 retail branches in Essex, Middlesex, Norfolk and Suffolk counties, Salem 5 divisions embody Salem Five Mortgage Company, one of many largest mortgage lenders headquartered in New England; Salem 5 Funding Companies which affords monetary and retirement earnings planning, portfolio assessment and cash administration; Salem 5 Wealth Administration & Belief providing fiduciary wealth administration companies to establishments and high-net-worth people, and Salem 5 Insurance coverage Companies, which supplies private and industrial insurance coverage.