By Michael Souza
PBN Staff Writer
(Updated, Oct. 15, 11 a.m.)
EAST PROVIDENCE – In 2011, Starkweather & Shepley Insurance Brokerage Inc. experienced a strong year despite the economy. Notably, it appears that the company has taken 2012 in stride and has not lost momentum.
The East Providence-based insurer has been ranked by Business Insurance Magazine as 75th on Business Insurance Magazine’s Top 100 list of insurance brokerages in the country. The ranking was based on revenue and S&S raked in $32,990,000 in 2011, a slight increase from last year’s numbers.
In addition, the company ranked 52nd in the nation on Insurance Journal’s Top 100 property casualty independent agencies list, also based on 2011 revenues. Despite the economy, the agency’s property and casualty revenue increased almost 5 percent when compared to the previous year, 2010.
So far this year, Starkweather & Shepley has continued to grow, indicating yet another strong year. The firm acquired The Insurance Professionals of New England in Sturbridge, Mass. and The Fradette Carlson Agency. The acquisition of the latter is notable because it was the company’s first foray in the state of Connecticut. Yet another acquisition, the purchase of Byrnes Bonding Insurance, allowed S&S to enter the surety bonding market in order to address the needs of the construction industry.
Starkweather and Shepley President and CEO Natale P. Calamis credited the company’s employees for their success. “Their dedication and determination, as well as the relationship we enjoy with our clients are the reasons we continue to thrive,” he said in a statement announcing the achievements. “I am also honored to be a part of this elite group, and proud to be nominated as one of the Best Places to Work in Rhode Island,” he said, referring to PBN’s annual award.