Portland, ME -- June 18, 2014 -- Cross Insurance, a subsidiary of Cross Financial Corp., and one of the largest independent insurance providers in New England, and the Cumberland County Civic Center announced today they have signed a new, long-term naming rights agreement to name the Portland, Maine-based, nearly 7,000-seat multi-purpose sports and entertainment venue the Cross Insurance Arena.
The venue, a staple of Southern Maine for close to four decades, reopened in February 2014 following a 15-month-long-expansion and accompanying renovations. The arena now includes expanded lobby areas, concessions, accessibility, storage, loading dock capability, rest rooms, locker rooms, luxury suites, and premium seating, as well as upgrades to safety and security.
Cross Insurance, a family-owned agency where three generations of the Cross Family work, contributed $2.5 million to secure the naming rights for the 10-year agreement. Additional advertising and premium seating opportunities are available in the Cross Insurance Arena.
The strong philanthropic commitment made by the Cross Family will provide significant revenue toward repayment of a $33 million dollar renovation bond approved by Cumberland County taxpayers in November 2011 that allowed for the renovation and expansion of the arena.
Cross Insurance is the only insurance agency in the US to have secured naming rights for two major arena complexes, including one located in their home state's most-populated region. The agency currently holds the naming rights to the Cross Insurance Center in Bangor for 15 years.
"Cross Insurance is thrilled and proud to have the opportunity to partner with the Cumberland County Civic Center and support the revitalized arena, by securing the naming rights to the facility," said Brent Cross, Executive Vice President of Cross Insurance. "The Cross Insurance Arena will not just be a cultural haven for the city of Portland, but for all of Maine as well. We are extremely excited about our brand's continued expansion throughout our home state."
"On behalf of the Civic Center, it is my privilege to welcome Cross Insurance as our naming rights partner," said Neal Pratt, Chairman of the Civic Center's Board of Trustees. "Teaming up with such a terrific Maine-based company is a perfect follow up to having just opened the newly-renovated facility. The public response to the venue's many improvements has been very positive, and we look forward to many years of collaboration and success together at the new Cross Insurance Arena."
Since its founding in 1954, Cross Insurance has grown extensively through the acquisition of more than 100 insurance agencies throughout New England. The agency has more than 650 employees in more than 35 offices, servicing 100,000 customers throughout the region.
The revenue associated with naming rights for the arena will allow the venue to continue its mission of providing a wide variety of world-class entertainment opportunities to the residents of Southern Maine.
"This partnership represents the convergence of two great organizations, and we are pleased to have been able to assist in uniting them," said Bryan Furey, Regional Vice President of Front Row Marketing Services, which acted as agents for the arena during the transaction. "Cross Insurance's commitment will ensure an enhanced experience for the arena's patrons and foster greater community sustainability."
About Cross Insurance
Founded in 1954, Cross Insurance has grown from a small, family-owned and operated insurance agency based in Bangor, Maine, into one of the largest insurance providers in New England with more than 650 employees in more than 35 offices, serving 100,000 customers throughout the region. Still family-owned and operated, Cross Insurance, a subsidiary of Cross Financial Corporation, provides an extensive range of customized and innovative insurance and financial products including personal and commercial insurance lines, employee benefits, surety bonds, comprehensive risk management advice and counsel, and specialized products focused on higher education and high net worth needs. For more information about Cross Insurance, please visit www.crossagency.com.