The Kaplannsky Insurance Agency based in Needham, Massachusetts, has been acquired by the National Financial Services firm, Alara Group.

This new association provides more than 100 agents to add to property/victims of Alara Group in the Northeast.

The Independent Agency was founded in 1974 in Brookline by Ely Kaplansky at the age of 22. The agency has become one of the largest private insurance agencies in the northeast. In the last 50 years, Kaplansky has completed 53 acquisitions, has expanded to 18 locations and welcomed more than 50,000 clients.

The agency has 18 locations in Massachusetts and Rhode Island. Last month, Kaplansky revealed that he recently bought two insurance agencies from Massachusetts and a third in the western part of the state.

Alara’s announcement said that Kaplanky agency employees will continue to serve customers in their existing roles.

The terms of the transaction were not revealed. Marshberry Capital acted as a Kaplannsky financial advisor in Alara’s transaction.

Alara Group, based in Illinois, is an independent private financial services firm with $ 1.5 billion in gross income and 4,500 colleagues.

On January 1, 2025, Jim Blue, president of the Alara Group, became the firm’s executive director, happening to Alan Levitz, who became executive president.

Topics Massachusetts mergers and acquisitions