Union Bank of California said Thursday that it had consolidated its insurance operations under a single brand name, UnionBanc Insurance Services Inc., and will aggressively expand its client base with an initial focus on California and Oregon.
The San Francisco-based bank’s insurance business comprises four California agencies: Armstrong Robitaille Business and Insurance Services, John Burnham Insurance Services, Tanner Insurance Brokers, and Knight Insurance Agency. It has offices in San Diego, Irvine, Fullerton, Glendale, Pleasanton, San Rafael, Stockton, and Sacramento, Calif., and Portland, Ore.
The melding of the four agencies under the UnionBanc Insurance Services umbrella positions it as one of the 30 largest insurance agencies in the United States, Union Bank said. Annual revenue exceeds $80 million, and the company employs 415 insurance professionals.
Though UnionBanc Insurance will continue to focus largely on commercial coverages, the group plans to increase its focus on sales to individuals, including clients of Union Bank.
