Eastern Bankshares, Inc. Announces Closing Of Eastern Insurance Group LLC Asset Sale
31 Octobre 2023 - 9:52PM
Business Wire
Eastern Bankshares, Inc. (the “Company”) (Nasdaq Global Select
Market: EBC), the stock holding company for Eastern Bank, announced
today it has completed the previously disclosed sale of Eastern
Bank’s insurance operations, which conduct business under the name
Eastern Insurance Group LLC (“Eastern Insurance”), to Arthur J.
Gallagher & Co. (NYSE: AJG) (“Gallagher”).
“This transaction enables a stronger focus on the strategic
growth of our core banking business,” said Bob Rivers, Chief
Executive Officer and Chair of the Board of Eastern Bankshares,
Inc. and Eastern Bank. “We are grateful for the leadership of
Eastern Insurance’s CEO Tim Lodge and the entire team at Eastern
Insurance for their years of contributions, camaraderie and
outstanding service to our customers, colleagues and communities we
serve. We look forward to continuing our relationship with industry
leader Gallagher as our insurance brokerage partner.”
Eastern Insurance acts as an agent in offering property and
casualty as well as life and health insurance to both personal and
commercial customers. Licensed to do business in every state,
Eastern Insurance serves more than 75,000 individuals and
businesses and represents more than 50 national and regional
insurance carriers.
About Eastern Bankshares, Inc. and Eastern Bank
Eastern Bankshares, Inc. is the stock holding company for
Eastern Bank. Founded in 1818, Boston-based Eastern Bank has more
than 120 locations serving communities in eastern Massachusetts,
southern and coastal New Hampshire, and Rhode Island. As of
September 30, 2023, Eastern Bank had approximately $21 billion in
total assets. Eastern provides a full range of banking and wealth
management solutions for consumers and businesses of all sizes, and
takes pride in its outspoken advocacy and community support that
includes $240 million in charitable giving since 1994. An inclusive
company, Eastern is comprised of deeply committed professionals who
value relationships with their customers, colleagues, and
communities. For investor information, visit
investor.easternbank.com.
About Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co. (NYSE: AJG), a global insurance
brokerage, risk management and consulting services firm, is
headquartered in Rolling Meadows, Illinois. Gallagher provides
these services in approximately 130 countries around the world
through its owned operations and a network of correspondent brokers
and consultants.
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version on businesswire.com: https://www.businesswire.com/news/home/20231031403952/en/
Investors: Jill Belliveau Eastern Bankshares, Inc.
InvestorRelations@easternbank.com 781-598-7920
Media: Andrea Goodman Eastern Bank
a.goodman@easternbank.com 781-598-7847
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