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Northwest Bank has entered into an agreement to sell its insurance business, through Northwest Insurance Services, to USI Insurance Services.
“We are pleased to have reached a definitive agreement with USI, one of the largest risk management, employee benefit and retirement consulting firms in the world,” Vice President and Communications Manager Melanie Clabaugh said.
According to a release through PRNewswire, “USI connects over 8,000 industry-leading professionals from approximately 200 offices to serve clients’ local, national and international needs.”
“This transaction, which is expected to close early in the second quarter of 2021, will not impact Northwest Insurance Services clients’ insurance coverage, payment schedules or procedures,” Clabaugh said. “And, they’ll continue to work with the same talented insurance professionals, who will have access to an expanded set of tools, resources and expertise.”
Northwest Bank Announces Agreement to Sell Its Insurance Business to USI Insurance Services
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WARREN, Pa. and VALHALLA, N.Y., April 1, 2021 /PRNewswire/ Northwest Bank, a subsidiary of Northwest Bancshares, Inc. (NASDAQ: NWBI), today announced that it has entered into a definitive agreement to sell its insurance business offered through Northwest Insurance Services to USI Insurance Services ( USI ).
Northwest Insurance Services is a wholly-owned subsidiary of Northwest Bank, offering property and casualty, life, disability and long-term care insurance, as well as group health, life and disability employee benefits.
USI is one of the largest insurance brokerage and consulting firms in the world, delivering property and casualty, employee benefits, personal risk, program and retirement solutions to large risk management clients, middle market companies, smaller firms and individuals. USI connects over 8,000 industry-leading profession
The Hutchinson News
GREAT BEND – The Great Bend Chamber of Commerce staff and Ambassador Club officially welcomed Peoples Bank and Trust into Great Bend on Feb. 26 with a ribbon-cutting ceremony at 2220 Broadway Ave.
This follows the 2020 announcement from PBT Bancshares, Inc., the McPherson-based parent company for Peoples Bank and Trust, that it had entered into a definitive agreement to acquire Community Bank of the Midwest, of Great Bend.
The merger, which is now complete, includes locations in Ellinwood, Otis and Ness City, and brings additional financial services to former customers of Community Bank of the Midwest by offering Trust Services, Investment Services, Farm Management Services, and expanded Residential Real Estate Lending Services, said Tom Pruitt, president and CEO of Peoples Bank and Trust.