MIDDLETOWN – OceanPoint Insurance, a subsidiary of BankNewport and OceanPoint Financial Partners, has acquired Paquin Insurance Agency, the companies announced this week.
Paquin Insurance Agency, headquartered in Tiverton, will continue to do business under its own name. The company’s seven employees will remain with the company and will remain in the Tiverton office. Agency Principal Rick Paquin will serve as vice president for OceanPoint, operating out of the Paquin Tiverton office.
OceanPoint now has 59 employees, including the Paquin staff.
“When we learned that OceanPoint was looking to expand in the region, it made sense to join an organization that shares our values and can provide additional options for our personal and business customers,” said Paquin in a statement.
The details of the transaction were not disclosed.
“Clients have placed their trust in Paquin Insurance for over 50 years,” said Doug Mayhew, president and CEO of OceanPoint Insurance. “At OceanPoint Insurance, we respect that reputation and look forward to continuing their legacy of delivering quality service and products to residents and businesses throughout the community.”
Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.
