News Release:  FAIRVIEW PARK, OH, March 11th, 2014

McGowan Purchases Assets of Breed’s Hill Insurance Agency

To Our Brokers:

We are excited to announce that The McGowan Companies (McGowan) has purchased the assets of Breed’s Hill Insurance Agency (Breed’s Hill).  Effective immediately, Breed’s Hill will begin operating under the McGowan Risk Specialists (MRS) brand.   

Established in 1996, Breed’s Hill is one of the largest and most respected Managing General Agency’s in the New England habitational market.  “Breed’s Hill fits exceptionally well with McGowan’s growth strategy in the Real Estate segment,” states Thomas B. McGowan, IV, President of The McGowan Companies. “We are excited to establish a ‘bricks and mortar’ operation in New England to best serve our brokers’ needs in that part of the country.”

The MRS Boston office will be a facility dedicated to Real Estate that is placed in the Excess & Surplus Lines market.  The initial product offerings include Property, General Liability and Equipment Breakdown for all classes of Real Estate.  Paul Barringer, President of Breed’s Hill, commented, “We are excited to announce this transaction with Thom and his team. The McGowan Companies has an exceptional reputation for understanding and meeting the needs of their brokers while, at the same time, delivering extraordinary long-term profitability to their carrier partners.  We see this as an ideal home for our real estate business.”

All Breed’s Hill brokers will receive automatic appointments with McGowan and its full range of products and capabilities.  Further, all McGowan brokers will now have access to all of Breed’s Hill’s product offerings.

Please note:    • Your contacts will not change. • Your current commission structure will remain in place.

Should you have any questions, please do not hesitate to contact us.

Cordially,

Thomas B. McGowan, IV
President & Chief Executive Officer
The McGowan Companies – Home Office
20595 Lorain Road
Fairview Park, OH  44126
P: 800.545.1538 (x3609)
tbmiv@mcgowancompanies.com

Paul Barringer
President – Breed’s Hill
Four 13th Street
Charlestown, MA 02129
P: 617.886.0606
paul@breedshill.net