Northwest Insurance Services (NWBI) Enters Deal to Acquire Winans Insurance & Employee Benefits
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Northwest Insurance Services, a subsidiary of Northwest Bank (Nasdaq: NWBI), announced that it signed a definitive agreement, effective November 1, to acquire Winans Insurance & Employee Benefits, a property and casualty insurance and employee benefits firm located in Warren, Pennsylvania.
Founded in 1927, Winans Insurance and Employee Benefits has grown through a series of acquisitions to be one of the largest insurance agencies in its area.
As part of the acquisition, the entire Winans team will continue to operate from their current office at 315 Second Avenue in Warren. Winans' owner, David G. Winans, a 36-year industry veteran, will become vice president, Northwest Insurance Services, serving Northwestern Pennsylvania and New York's Southern Tier.
In making the announcement, Douglas H. Bert, president, Northwest Insurance Services said, "Committed to expanding our coverage across Pennsylvania and New York, we're pleased to welcome Winans Insurance and Employee Benefits and their strong team as members of the Northwest family. This addition reinforces our dedication to providing best-in-class insurance products and award-winning customer service to the businesses and families we serve." He added, "The cultural compatibility of our two companies is demonstrated by our missions and commitment to our local communities."
"Because of their proven record of providing excellent customer service, we are excited to affiliate with Northwest and are happy to continue to serve our valued clients in Warren and the surrounding area," said Mr. Winans. "Operating within the Northwest network, we'll be able to connect our clients to an expanded list of carriers and additional products and services, including investment management and trust, employee benefits, retirement services and personal and business banking and loans."
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