Fifth Third buys US firm RG McGraw Insurance Agency
US-based Fifth Third Insurance Agency has signed an agreement to acquire RG McGraw Insurance Agency that specialises in property/casualty insurance and risk management analysis for personal lines and commercial lines.
The transaction is expected to close in early March, the company said in a statement.
"This acquisition represents a compelling opportunity to further build Fifth Third's insurance capability and deliver best-in-class risk management solutions for our customers," said Howard McClure, president of insurance services at Fifth Third Bancorp.
"A leader in personal and commercial insurance solutions for over six decades, RG McGraw Insurance Agency and its talented team of risk management specialists will build on an already successful insurance practice at Fifth Third," he added.
Michael McGraw, president and CEO of RG McGraw, added: "We are excited to join Fifth Third and continue to deliver quality service and coverage solutions to enhance risk management and asset protection for clients of our firm and Fifth Third."
"I began my career at Fifth Third nearly 40 years ago and am pleased to come full circle with this opportunity to rejoin the Fifth Third family."
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