Ascension Insurance Inc., a Kansas City, Mo.-based insurance agency, announced the acquisition of Charlotte, N.C.-based First Charter Insurance Services Inc. from Fifth Third Bank Corp. Transaction terms were not released.

First Charter will be renamed Ascension Insurance Agency Inc., a full-service insurance agency offering property-casualty, employee benefits services and personal lines insurance.

Ascension said First Charter is North Carolina's third largest domiciled insurance agency with 90 employees and four offices, and is licensed in 25 states.

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