People's United Insurance Agency Announces Acquisition of Massachusetts Brokerage Eagle Insurance Group, LLC

BRIDGEPORT, Conn., April 21, 2016 /PRNewswire/ -- People's United Bank, N.A. announced today that its subsidiary, People's United Insurance Agency (PUIA), has acquired Eagle Insurance Group, LLC, a Raynham, MA-based insurance brokerage firm.

"We are very pleased to welcome Eagle Insurance Group to our PUIA team," said Jack Barnes, President and Chief Executive Officer. "The acquisition deepens our presence in eastern Massachusetts while expanding PUIA's heating oil and propane supplier relationships and expertise in the commercial segment."

"Eagle has established itself as a respected, full service agency and customer-focused commercial insurance broker," said Daniel Casey, President and Chief Executive Officer, PUIA. "We are excited to combine Eagle's capabilities with PUIA's broad array of insurance solutions for individuals and businesses through this acquisition."

"We are thrilled to be a part of the People's United family," said Michael Cox, Principal, Eagle Insurance Group. "It's a true win-win for our employees and clients alike."

Formed in 2010, Eagle Insurance Group, LLC provides property-liability insurance, risk management, and consultation services to a diverse clientele including petroleum marketers, contractors, manufacturers, property managers, and trucking companies.

Ranked nationally as the 12^th largest bank-owned insurance brokerage according to Michael White's Bank Insurance Fee Income Report, PUIA is one of the top-performing and largest regional brokers in the Northeast. PUIA provides personal insurance, employee benefits and commercial insurance through a team of more than 160 professionals.

For information about People's United Insurance Agency, read more at peoples.com.

People's United Bank, N.A. is a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT), a diversified financial services company with over $39 billion in assets. People's United Bank, founded in 1842, is a premier, 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.

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SOURCE People's United Bank

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