SALEM — Salem Five Insurance, a subsidiary of Salem Five Bank, announced on Thursday that it has acquired Lynn-based A. James Lynch Insurance Agency Inc.
Lynch Insurance was founded in 1952 and has steadily grown since.
Andrew Drayer, senior vice president of strategic growth for Salem Five Insurance, said the partnership with A. James Lynch will provide customers with more choices while maintaining the “same great service that they have always enjoyed.”
Salem Five Insurance has more than 60 employees in six locations, and partners with dozens of carriers to meet the specific personal and business needs of its customers
A. James Lynch President Maura P. Lynch said they have always put their customers and employees first, and “know Salem Five shares these values and will help make sure that our customers and employees are taken care of as they have always been.”
President of Salem Five Insurance Gerard “Jay” Boyle said “we look forward to serving A. James Lynch customers and continuing to provide them with the quality service that they have come to expect from their insurance agency.”
Salem Five Bank is a mutual bank that was founded in 1855 with banking, investment and insurance professionals.
Salem Five has almost $6 billion in assets and 35 retail branches in Essex, Middlesex, Norfolk and Suffolk counties.
Divisions include Salem Five Mortgage Company, one of the largest mortgage lenders headquartered in New England; Salem Five Investment Services, which offers financial and retirement income planning, portfolio review and money management; Salem Five Wealth Management and Trust, offering fiduciary wealth management services to institutions and high-net-worth individuals; and Salem Five Insurance Services, which provides personal and commercial insurance.
