Union Bank Expands Insurance Office
NU Online News Service, Dec. 4, 1:00 p.m. EST?Fullerton, Calif.-based Armstrong/Robitaille Insurance Services will acquire Knight Insurance Agency of Glendale, Calif.[@@]
Armstrong/Robitaille is a subsidiary of UBOC Insurance Inc., whose parent company is San Francisco-based Union Bank of California, N.A., a bank holding company with $42.6 billion in assets.
Union Bank said it is looking to expand its offering of insurance products through strategic acquisitions. This is the first acquisition by Armstrong/Robitaille since it was purchased by Union Bank in 2001.
Founded in 1922, Knight offers business, personal, and life and health insurance. Lines include group health benefits, general liability, workers' compensation, employment practices liability, property, professional liability and executive protection liability.
Terms of the deal were not disclosed.
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