The Schenectady-based Merriam Insurance Agency, which announced the deal on Tuesday, did not disclose financial terms. The acquisition closed the previous Monday. Corporate Benefit Planning is located in Latham, NY.
Carol Bowman, prior Manager of CBP, said, “We strongly believe that the Merriam Insurance Agency will continue the personalized and excellent service we have provided to our valued clients and we are pleased that The Merriam Insurance Agency is available to provide … an expanded service and product line.”
Brian H. Merriam, President of Merriam Insurance, stated, “The Merriam Insurance Agency has been meeting the needs of our clients for 119 years. As their needs change, so too must our offerings to them. CBP offers a complement to our clients’ health insurance needs made more necessary because of the ACA (‘Obamacare’). CBP has a similar commitment to excellence that attracted us to them. The acquisition fits well with the current direction of the agency, which has been serving the personal and commercial needs of both local and national clients since founded in 1895.”
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