KeyBank Renames Former First Niagara Insurance Agency

Monday, December 19, 2016

Source: Buffalo Business First

KeyBank N.A. has renamed its newly acquired insurance subsidiary.

First Niagara Risk Management Inc. is now called Key Insurance & Benefits Services Inc. The insurance agency – which has seven offices in three states – will continue to be headquartered in Buffalo.

The name change comes nearly five months after Cleveland-based parent company KeyCorp (NYSE: KEY) acquired First Niagara Financial Group Inc. of Buffalo. The $4 billion deal, which closed July 29, made KeyCorp the 13th largest U.S.-based bank.

Prior to the acquisition, KeyCorp did not have an insurance arm. Now, through KIB, it offers personal insurance, employee benefits and risk reduction services to commercial clients throughout the Northeast.

Kirk Jensen, a former First Niagara executive, leads the division. The subsidiary employs more than 350 people.

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