Dowd Agencies acquires Orchard Insurance, Collins Insurance
March 20, 2014
HOLYOKE – The Dowd Agencies, a leading insurance provider serving New England for over 115 years, today announced momentum with the acquisition of two local insurance agencies – Ludlow-based Collins Insurance and Indian Orchard-based Orchard Insurance – for undisclosed amounts. |
The Collins transaction closed in mid-November 2013 and the Orchard transaction was completed in early January 2014. As part of the acquisitions, employees of the acquired firms will join The Dowd Agencies and David Griffin, Sr. has been appointed president of Collins-Dowd and Orchard-Dowd.
“The Dowd Agencies are growing, which strengthens our ability to provide the local community with competitive personal and commercial insurance products and services along with experienced employee benefits and financial planning services,” John E. Dowd Jr. president and CEO of The Dowd Agencies, said. “We recognize the personal relationships that customers have built with both Collins and Orchard agencies, and would like to assure customers that those relationships will remain intact. This partnership benefits the community at large and will offer all of our customers more competitive offerings across all of our combined service areas.”
Collins Insurance is a well-established agency located in Ludlow since the 1920’s. The agency brings decades of experience to The Dowd Agencies regarding national, regional and local insurance. The Collins pledge to always put the interests of clients first while providing honest, dependable service aligns with The Dowd Agencies core mission to provide personalized, professional service through every step of the insurance process.
Orchard Insurance was established in 1986, and previously operated under the name of Colwell and Prentice since the early 1900’s. The agency focuses on providing property and casualty insurance to a diverse clientele including those in the local retail, manufacturing and transportation industries.
Additionally, Robert W. Gilbert Jr. will be transitioning in his role from president and CEO of The Dowd Agencies to chairman of the board; he will remain at the company managing key accounts and advising on mergers and acquisitions. John E. Dowd Jr. will transition from executive vice president to president and CEO, along with David W. Griffin Sr. who will remain as principal and treasurer but will transition from vice president to executive vice president.
“Bob Gilbert has been instrumental in the growth and success of Dowd over the past several decades,” Dowd said. “His transition will take place over the next several years, consistent with our long-term succession plan. Bob’s contributions to The Dowd Agencies over the years have been significant by any measure and we are very fortunate to have had him as part of our team.”
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