Salem Five Insurance Acquires Elliot Whittier Insurance

Customers receive expanded suite of services, same service commitment

Salem Five Insurance, a subsidiary of Salem Five Bank, announced today that it has acquiredAndrew Drayer of Salem Five with Wayne Guyer and Steve Roy Elliot Whitter Insurance Services LLC of Danvers and Winthrop, which was founded in 1882 and is a Five Star Agency deeply committed to the communities it serves.

“This partnership will provide Elliot Whittier customers with more choice while maintaining the same great service that they have always enjoyed,” said Andrew Drayer, Senior Vice President of Strategic Growth for Salem Five Insurance.

With the addition of Elliot Whittier employees, Salem Five Insurance will now have more than 75 professionals in eight locations across the Greater Boston area. The agency partners with dozens of carriers to meet the specific personal and business needs of its customers throughout the region.

Andrew Drayer of Salem Five with
Wayne Guyer and Steve Roy of Elliot Whittier

“We are dedicated to our customers, communities and our employees,” Elliot Whittier Principal Steven Roy said.  “We know Salem Five shares these values and will continue to strengthen these relationships.”

Added agency Principal Wayne Guyer, “We believe we can offer more together.”

Both Steven Roy and Wayne Guyer have joined Salem Five Insurance as Senior Vice Presidents.

“We look forward to serving Elliot Whittier customers and continuing to provide them with the quality service that they have come to expect from their insurance agency,” said Gerard “Jay” Boyle, President of Salem Five Insurance.

Mr. Peter Milnes, CPCU, CIC, Chairman of INEX Capital & Growth Advisors advised Elliot Whittier on the transaction while Andrew Drayer conducted negotiations for Salem Five Insurance on the acquisition, personally.

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