Blackstone Financial Group, Inc., a Delaware corporation, is the holding company for insurers Narragansett Bay Insurance Company and Pawtucket Insurance Company, which are headquartered in Pawtucket, Rhode Island. Narragansett Bay Insurance and Pawtucket Insurance have been servicing its agent partners and customers since 1848.

Our History
Narragansett Bay Insurance Company's roots run wide and deep.  The Company emerged from The Pawtucket Mutual Fire Insurance Company, founded in 1848, the second mutual insurance company started in Rhode Island. Flourishing throughout the 20th century, the company weathered both the Great Depression and the '38 Hurricane, evolving to become Pawtucket Mutual Insurance in 1952.

For over fifty years, the company provided property and casualty insurance for policyholders throughout the Northeast. In 2005, the company was converted from a mutual company into a privately owned stock company by its new owners, The Blackstone Financial Group, headed by Stewart H. Steffey, Jr.  This group of professionals, which included nearly 200 years of combined expertise in the insurance industry, developed a business plan to write specialized homeowner's insurance exclusively. Their unique underwriting program allows them to enter markets in coastal states that are going through significant change.

The most recent opportunity came on January 8, 2008, when private investors committed an additional $200 million of capital to help support the market opportunity to expand to coastal and inland homes throughout the entire Eastern Seaboard.

Read More – “NBIC Receives $200M Investment”