WOONSOCKET – Thompson Insurance Group in East Providence has acquired Soucy Insurance Agency in Woonsocket.
Soucy Insurance, a property and life insurer with 10 employees, is expected to maintain its name and location. President David Soucy will stay on and keep his current title, according to a spokesman.
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“When looking at who to team up with to preserve our third-generation family agency, it was essential to me to find a partner who equally believed in the traditions of service and community that has defined our agency,” said Soucy in prepared remarks. “The Thompson Group brings the energy, technology and commitment that is needed for the Soucy Agency to continue.”
Thompson Insurance, an insurance, real estate and investment company with three employees, also owns Lezaola-Thompson Insurance.
The deal is expected to help Thompson and Soucy Insurance share resources and expand geographic footprints in Rhode Island and Massachusetts.
“David and his staff have built an exemplary agency, and we’re looking forward to working with them to enhance their service and offerings to further benefit their customers,” said Kenneth Thompson, CEO of Thompson Insurance. “We are equally determined to continue the agency’s proud tradition of service to the community.”
Financial terms of the deal were not disclosed, but no layoffs are expected.
Eli Sherman is a PBN staff writer. Email him at Sherman@PBN.com, or follow him on Twitter @Eli_Sherman.
