Glastonbury-based insurance broker Smith Brothers has purchased a Groton insurance firm to expand its coverage in the southeastern portion of Connecticut.
The Glastonbury company said it purchased Groton’s Bailey Agencies Insurance, which has added three employees to Smith Brothers’ offices in Niantic at 377 Main St.
Smith Brothers said it employs more than 180 people, 120 of which are located in Glastonbury. The firm has offices throughout Connecticut, Massachusetts and New Jersey.
Jared Carillo, Smith Brothers’ director of foundation accounts, said teaming with Bailey Agencies will enable the firm to expand its services across the shoreline to help families and businesses.
Smith Brothers has made a number of similar acquisitions in recent years.
In 2015, the firm purchased Windsor Locks insurance broker Carillo & Howland Inc. and then Bayberry Insurance of Groton soon after. The Glastonbury firm then went on to acquire Widerman & Company Insurance of Haddonfield, N.J. in 2017.
Brothers Bob and Brian Smith established the firm in Hartford in 1971.
