WARWICK – Stabile and Associates LLC, at 875 Centreville Road, has been acquired by East Providence-based Starkweather & Shepley Insurance Brokerage Inc., the companies announced this week. Financial terms were not disclosed.
Under the agreement signed Sept. 1, the Warwick office will be closed by the end of the year and its three staff will be moved to Starkweather & Shepley’s main office in East Providence, Steven E. Deware, senior vice president at Starkweather, told Providence Business News in a telephone interview this morning. Starkweather, founded in 1879, also has branch offices in Westerly, Newport, Westwood, Mass., and Martha’s Vineyard.
“We are delighted that all Stabile employees will be joining Starkweather & Shepley Insurance Brokerage,” Deware said. Stabile and Associates owner Ron Stabile will become a vice president at Starkweather.
“What impressed us most about Stabile and Associates was their focus on providing a strategic managed health care approach,” Starkweather President Fred Tripp said in a statement. “This is consistent with Starkweather & Shepley’s philosophy …. We believe it most advantageous for the clients we serve to consolidate their risk-management requirements with one organization that can provide a full range of insurance products, services and expertise.”
Starkweather, a partner of Assurex Global, provides insurance, employee benefits and risk-management services in the United States and abroad. The company recently was ranked as the nation’s 86th largest independent insurance brokerage by Business Insurance, a national trade publication.
“With the acquisition of Stabile & Associates, we have enhanced our ability to fully manage the insurance needs of any organization, large or small,” Nat Calamis, executive vice president of Starkweather, said in a statement.
Starkweather & Shepley Insurance Brokerage Inc. – a provider of life, property, auto and other insurance to individuals and the financial, food-service, maritime, manufacturing, retail, medical and utility industries – employs 150 professionals at its headquarters in East Providence and branch offices in Westerly, Newport, Westwood, Mass., and Martha’s Vineyard. For additional information, visit www.starkweathershepley.com.
