Peoples United Bank NA, a Bridgeport, Connecticut-based regional bank with almost 400 retail locations in 6 states, revealed that its subsidiary, Peoples United Insurance coverage Company, has gotten Kesten-Brown Insurance coverage, a Bridgeport, Connecticut-based insurance coverage brokerage.
Peoples United Bank said the acquisition would additionally diversify profits through extra non-interest earnings along with boost its insurance coverage business.
Kesten-Brown Insurance coverage, formed in 2000, focusesconcentrates on industrial lines and employee advantages. The company has knowledge in serving bigger office clients with a concentration in service providers, manufacturers, non-profit organizations, and genuineproperty advancement risks, the statement said.
Peoples United Insurance coverage Agency offers insurance coverage services for people and companies including individual insurance, staff member benefits and business insurance coverage through a group of around 155 experts. It has workplaces in Bridgeport and Hartford, Connecticut; Boston and Springfield, Massachusetts; Portsmouth, New Hampshire; Smithtown, New york city; and Burlington and Rutland, Vermont.
Peoples United Bank NA is a subsidiary of Peoples United Financial Inc., a diversified financial services business with over $37 billion in assets. Peoples United Bank, founded in 1842, is a community-based, local bank in the Northeast offering commercial and retail banking, as well as wealth management services through a network of almost 400 retail places in Connecticut, New york city, Massachusetts, Vermont, New Hampshire and Maine.