Mellon Bank Corp. said Monday that it has an agreement to buy Clair Odell Group, a full-service property and casualty insurance agency based in Plymouth Meeting, Pa.

The deal would help Mellon broaden services to its corporate clients, said Martin G. McGuinn, chairman and chief executive officer of Mellon Bank.

In addition to property and casualty lines, Clair Odell Group provides life and health, employee benefits, surety, and personal lines insurance services.

With about $71 million in annual premiums placed, Clair Odell Group is one of the largest independent agencies in eastern Pennsylvania and the 75th-largest privately owned agency in the United States on the basis of revenues.

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