Insurer Starkweather acquires Moniz Benefits Group for an undisclosed sum
By William Hamilton PBN Staff Writer
EAST PROVIDENCE - Starkweather & Shepley Insurance Brokerage Inc., the state’s largest independent insurance agency, has acquired Moniz Benefits Group Inc., a North Kingstown benefits advisor.
The purchase price was not disclosed, but Moniz Benefits Group founder James Moniz Jr. has been appointed senior vice president and employee benefits leader at Starkweather, the agency said on Monday.
Moniz launched his firm in 2002, after working 14 years with United HealthCare of New England, at one point serving as chief financial officers and senior vice president of sales and marketing.
“The acquisition of Moniz Benefits Group is a perfect addition to our expanding firm and its services,” Natale P. Calamis, president and CEO at Starkweather, said in a statement. “Specifically, MBGs experience, expertise and track record in health benefits with large and mid-size organizations will allow us to provide our clients with further cost saving solutions and value for their overall employee benefits programs.”
William P. McGillivary, Starkweather’s chairman and chief financial officer, added: “Health care cost increases continue to pose significant issues for most companies, and this acquisition considerably expands our expertise in this area.”
Integral to the acquisition, Starkweather & Shepley has appointed James Moniz, Jr. to Sr. Vice President and Employee Benefits Leader. Jim was the president and founder of MBG.