Eastern Bank in Boston has agreed to buy a health care insurance brokerage firm from Northwestern Mutual Life Insurance in Milwaukee.
The $9.6 billion-asset Eastern will acquire Northwestern Benefit Associates in Boston. The price and closing date were not disclosed.
Eastern plans to combine Northwestern Benefit's group benefits business will its Eastern Insurance Group unit. Northwestern Benefit's office at One Beacon Street will be rebranded as Eastern Insurance, giving Eastern 25 New England locations for its insurance business.
Northwestern Benefit was founded in 1984.