NORWICH — NBT Insurance Agency, LLC has acquired Karl W. Reynard, Inc. General Insurance, in Stamford in Delaware County, adding to NBT’s presences in the Catskills region, the company announced. “The team at NBT Insurance Agency is excited to continue our growth in the Catskills through this acquisition,” NBT Insurance President Tucker Lounsbury said in […]
NORWICH — NBT Insurance Agency, LLC has acquired Karl W. Reynard, Inc. General Insurance, in Stamford in Delaware County, adding to NBT’s presences in the Catskills region, the company announced.
“The team at NBT Insurance Agency is excited to continue our growth in the Catskills through this acquisition,” NBT Insurance President Tucker Lounsbury said in a news release. “We welcome the employees and clients of Karl W. Reynard, Inc. to our agency where we are focused on building relationships and ensuring our clients have the right blend of coverage to meet their unique business and personal needs.”
Founded in 1941, Karl W. Reynard is a property and casualty agency offering both personal and commercial lines. NBT did not disclose financial terms of the acquisition.
“Partnering with NBT Insurance was the right choice to ensure our clients will continue to receive personalized attention and value in their insurance relationship,” company president Kevin Hull said. “They will also benefit from additional insurance carrier choices and an expanded set of insurance lines, including life and employee benefits.”
Hull will continue with NBT Insurance and assist with customer engagement and business-development opportunities.
“I’ve had the pleasure of working with NBT Insurance Agency for several years to help source specialty insurance markets, and their commitment and support to their customers and their communities is unmatched,” Hull said. “I’m confident that Tucker and the NBT Insurance Agency team will be good stewards of Karl W. Reynard, Inc., which was founded over 80 years ago.”
NBT already has a presence in the market with its sister company NBT Bank.
NBT Insurance Agency is an independent, full-service agency offering property and casualty insurance, employee benefits, and life insurance. Founded in 1884, NBT Insurance is a wholly owned subsidiary of NBT Bancorp, Inc. (NASDAQ: NBTB), a financial holding company headquartered in Norwich with assets of $13.44 billion. Along with its insurance and banking subsidiaries, NBT Bancorp also operates EPIC Retirement Plan Services, a benefits-administration firm.
