Nationwide insurer buys agency here
Amica Mutual envisions expanding Thomas Porter agency into regional officeApril 20th, 2000
Amica Mutual Insurance Co., a Lincoln, R.I.-based insurer with offices nationwide, has gained a foothold in the Spokane market by buying the Thomas S. Porter Inc. insurance agency, which has represented Safeco insurance here for five years and serves about 7,000 policyholders.
The Spokane agency is located in the Riverpoint One Building, at 501 N. Riverpoint Blvd., and employs seven people, all of whom are licensed to sell insurance, says Thomas S. Porter, who became Amicas branch manager here as part of the transaction.
He says the number of employees in the agency is expected to remain the same for now, and the agency will continue to operate under his name.
Amica plans to grow its presence here, however, and envisions the agency eventually evolving into a regional office, he says.
Robert DiMuccio, a senior vice president and treasurer for Amica, says the newly acquired agencys current Safeco policyholders will be offered the opportunity to review comparable Amica products.
Those customers will have the option of switching to Amica or transferring their insurance to another agency.
The Porter agency also will serve about 600 other Amica policyholders in the Spokane area, DiMuccio says.
He declines to disclose the terms of the acquisition.
Porter says Amica first inquired about acquiring his agency about a year ago, and he says he decided to sell because it was a good opportunity.
Theyre highly rated by consumers nationally, and their (customer) retention is incredible, he says.
Porter has been selling insurance in the Spokane market since 1973 and had represented Safeco throughout his career.
Amica offers personal lines of insurance, including auto, boat, life, and different types of umbrella insurance. It operates 41 offices throughout the U.S., including one in Bellevue, Wash., and employs more than 3,000 people.