NORTH SMITHFIELD/GLOCESTER – An insurance agency that has served the community from a location in Park Square for some 75 years will soon be acquired another locally-owned firm based in Glocester.
Chestnut Hill Insurance will purchase Charles L. Kirby Agency at 69 Eddie Dowling, with plans to retain both the staff and location in North Smithfield.
First opened in July of 1956, the Kirby agency has been managed by Richard Dowling for more than 50 years. Dowling, who joined the agency in 1970 after four years with the Travelers Insurance, now plans to retire.
“The acquisition adds geographic diversification while providing significant growth opportunities to our carrier line-up,” said Chestnut Hill President & CEO Greg Agnone. “We are extremely excited for this addition and look forward to being active members of the North Smithfield community.”
Agnone noted that under Dowling’s leadership Kirby has grown and survived through many market and economic cycles.
“Ultimately this important piece advances our initiative to become the premier agency/group captive as we add quality business for consideration in this exclusive group,” he said.
Founded in Chepachet in 2013, Chestnut Hill specializes in offering a range of products and services for individuals and businesses, including auto, home, life and business-related insurance. The business expanded to include a second location in Putnam, Conn. in 2019, and made headlines earlier this year with plans to launch a new group/agency captive.
Agnone will be running the North Smithfield agency on site Monday through Friday for the time being while he searches for a branch manager for Chestnut Hill’s new location. Two current Kirby employees will join the Chestnut team, and Agnone said he plans to hire two additional agents to fill out the staff.
The change means more options for both new and existing customers in North Smithfield. Chestnut Hill brings an additional eight insurance carriers to the mix including The Hartford, Travelers, Mapfre, National General, Tokio Marine, CNA, Hospitality Insurance, and Foremost.
“We also significantly increase our Progressive book and add legacy company Nationwide Insurance,” Agnone said.
The multi-unit commercial building that has long served as Kirby’s home is owned by William and Regina Gasbarro of Cumberland. Agnone noted that Chestnut Hill has committed to staying at the location for at least five more years, signing a lease with the property owner.
Agnone said that Chestnut Hill continues to search for additional opportunities to expand the group through acquisition and strategic alliances. Interested agencies are encouraged to reach out through www.chestnuthillins.com.
