Mutual agreement marks next chapter following a decade-long relationship with Quincy Mutual
HOLYOKE, Mass. – The Dowd Agencies and Quincy Perpetuation Partners, a subsidiary of Quincy Mutual Fire Insurance Company, has announced the mutual decision to conclude the strategic partnership that was established in 2016.
In 2016, Quincy Perpetuation Partners acquired a minority ownership interest in The Dowd Agencies as part of a strategic alliance designed to support the continued growth and long-term success of the independent insurance agency. Since then, the organizations have maintained a strong working relationship while continuing to serve customers throughout New England.
As part of ongoing succession planning, both organizations agreed that now was the appropriate time for The Dowd Agencies to buy back QPP’s minority ownership interest.
“We’ve enjoyed a terrific relationship with Quincy Perpetuation Partners over the past decade and appreciate their partnership and support,” said John E. Dowd Jr., president and CEO of The Dowd Agencies. “This was a mutual decision that reflects the long-term goals of both organizations. We look forward to building on the already strong relationship we have had for many decades with Quincy Mutual Fire Insurance Company while we continue to serve the interests of our mutual clients throughout New England.
The transition does not affect The Dowd Agencies’ operations, leadership team or commitment to serving its clients. The agency will continue to operate independently under the ownership of the Dowd and Griffin families while maintaining the trusted relationships that have helped drive its success for more than 125 years.
“Our relationship with Quincy Mutual has created meaningful opportunities over the years, and we’re grateful for everything we’ve accomplished together,” Dowd said. “We’re excited about the future and remain committed to delivering the personalized guidance and service that have defined our agency for generations.”
