Schonning Insurance acquired by Cross Insurance

STEPHEN SCHONNING, president, and Bethany Schonning McGill, former vice president, are shown in this file photo from 2012 at Schonning Insurance Services in Westerly. The company has been acquired by Cross Insurance in Maine. / PBN FILE PHOTO/ BRIAN MCDONALD
STEPHEN SCHONNING, president, and Bethany Schonning McGill, former vice president, are shown in this file photo from 2012 at Schonning Insurance Services in Westerly. The company has been acquired by Cross Insurance in Maine. / PBN FILE PHOTO/ BRIAN MCDONALD

WESTERLY – Family-owned insurance agency Schonning Insurance has been acquired by Maine-based Cross Insurance, a subsidiary of Cross Financial Corp.
Schonning represents more than a dozen insurance companies for the firm’s business, personal, life and disability insurance customers.
Owned by President Stephen Schonning, the agency was established in 1987 and offers products and services to clients throughout southern Rhode Island and southeastern Connecticut.
Under terms of the acquisition, the agency and the firm’s six employees, including Schonning, will continue to operate as “Schonning Insurance.” It ultimately will transition and operate under the Cross Insurance brand, according to a news release.

“We are happy to welcome Schonning Insurance, a renowned family-owned agency, into the Cross Insurance family of agencies,” Royce Cross, CEO of Cross Insurance, said in a statement. “With this acquisition, we greatly enhance our service offerings throughout the states of Rhode Island and Connecticut.”

Said Schonning, “We look forward to combining the local responsive service our customers expect and deserve, with new markets and more alternatives offered by Cross for our customers to choose from.”

Acquisition terms were not disclosed.

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Since its founding in 1954, Cross Insurance has grown through the acquisition of more than 100 insurance agencies throughout New England. The company now has 700 employees operating out of offices in Maine, New Hampshire, Rhode Island, Massachusetts, Connecticut and Florida.

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