PITTSFIELD — MountainOne Insurance has acquired a local competitor to become one of the largest insurance agencies based in Berkshire County.
With the transaction, MountainOne becomes the largest insurance agency headquartered in the Berkshires in terms of clients under management, according to a news release. Based at the William Stanley Business Park, MountainOne also operates offices in North Adams and Williamstown.
Cross Insurance, located at 101 South St., is the local office of the Maine-based company of the same name, which is a subsidiary of Cross Financial Corp. Originally based in Bangor, Maine, Cross Insurance operates over 50 offices throughout the six New England states, New York and Florida. It has 14 offices in Massachusetts, but its Pittsfield office was the only one located in the western part of the state.
Cross entered the Berkshire market in 2016 when it acquired two Pittsfield-based agencies — Bardwell, Bowlby & Karam and Colt Insurance Agency — in two separate transactions. Cross’ Berkshire office on South Street, formerly occupied by Colt Insurance, will remain open under the MountainOne name. MountainOne owns that office under the affiliate, South Street Property LLC.
MountainOne is planning to retain the entire local Cross team, which will expand the combined insurance agency to 50 employees throughout six Berkshire County locations, according to a news release.
Those six locations include MountainOne’s two offices in Pittsfield, the agency’s offices in North Adams and Williamstown, and two satellite location at two separate Haddad Dealerships in Pittsfield. Jonathan Denmark, president and chief operating officer of MountainOne Insurance, did not return a call seeking comment.
“The acquisition of Cross Insurance in Pittsfield furthers MountainOne’s commitment to the communities we serve,” he said in a prepared statement. “The combined agency will now be able to offer products and solutions from an expanded roster of insurance companies.”
“We are thrilled to be expanding our presence into downtown Pittsfield,” Denmark said, referring to the retention of the South Street office, “and will carry on the traditions of excellence that Cross and the prior agencies were known for.”
Founded in 1867, MountainOne Insurance is a subsidiary of MountainOne, a North Adams-based holding company that also includes MountainOne Bank. It offers personal and business property and casualty insurance services, surety bonding, employee benefits and life insurance and Medicare solutions.
This is the second major transaction in the Berkshire insurance market since this fall. In September, Berkshire Hills Bancorp sold its insurance division, Berkshire Insurance Group, to Brown & Brown Massachusetts, a local subsidiary of a national insurance brokerage based in Daytona Beach, Fla. Three of Berkshire Insurance Group’s eight offices were located in the Berkshires, in Great Barrington, Stockbridge and Pittsfield.