People’s United Insurance Agency Acquires Kesten-Brown in Connecticut

By | October 16, 2015

People’s United Bank N.A., a Bridgeport, Connecticut-based regional bank with nearly 400 retail locations in six states, announced that its subsidiary, People’s United Insurance Agency, has acquired Kesten-Brown Insurance, a Bridgeport, Connecticut-based insurance brokerage.

People’s United Bank said the acquisition would further diversify revenues through additional non-interest income as well as bolster its insurance business.

Kesten-Brown Insurance, formed in 2000, focuses on commercial lines and employee benefits. The firm has expertise in serving larger commercial clients with a concentration in contractors, manufacturers, non-profit organizations, and real estate development risks, the announcement said.

People’s United Insurance Agency provides insurance services for individuals and businesses including personal insurance, employee benefits and commercial insurance through a team of approximately 155 professionals. It has offices in Bridgeport and Hartford, Connecticut; Boston and Springfield, Massachusetts; Portsmouth, New Hampshire; Smithtown, New York; and Burlington and Rutland, Vermont.

People’s United Bank N.A. is a subsidiary of People’s United Financial Inc., a diversified financial services company with over $37 billion in assets. People’s United Bank, founded in 1842, is a community-based, regional bank in the Northeast offering commercial and retail banking, as well as wealth management services through a network of nearly 400 retail locations in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine.

Topics Mergers Connecticut NonProfits

Was this article valuable?

Here are more articles you may enjoy.