People's United Bank, N.A. a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT) announced today that it has completed the sale of People's United Insurance Agency to AssuredPartners. The transaction was announced on September 22, 2020.

People's United Insurance Agency is a full-service insurance brokerage serving the Northeast providing commercial and personal, as well as employee benefit insurance solutions.

AssuredPartners, headquartered in Lake Mary, FL and founded in 2011, is an independent insurance agency that acquires and invests in insurance brokerage businesses across the U.S. and in the U.K. AssuredPartners is one of the fastest growing insurance brokers in the nation with locations across 34 states, and is ranked the 11th largest broker of U.S. business. The company offers property & casualty, risk management and personal insurance, in addition to employee benefits.

About People's United Bank

People's United Bank, N.A. is a subsidiary of People's United Financial, Inc., a diversified, community-focused financial services company headquartered in the Northeast with approximately $61 billion in assets. Founded in 1842, People's United Bank offers commercial and retail banking through a network of more than 400 retail locations in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine, as well as wealth management solutions. The company also provides specialized commercial services to customers nationwide.