BUFFALO, N.Y. — The insurance agency First Niagara Risk Management is now officially a subsidiary of KeyBank, operating under the name Key Insurance & Benefits Services, Inc. (KIB).
“We’re excited to take the final step toward joining KeyBank as part of [KeyCorp’s] acquisition of First Niagara Financial Group,” Kirk Jensen, KIB’s managing director and senior executive, said in a news release issued Monday.
KeyCorp (NYSE: KEY) completed its $4 billion acquisition of First Niagara on July 29, creating the 13th largest U.S.–based bank.
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Key Insurance & Benefits Services offers commercial insurance, captive insurance, employee benefits, personal insurance, and third-party administration services. It has more than 350 employees in seven offices across New York, Pennsylvania, and Connecticut.
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