Eastern bankshares, inc. announces agreement to sell the insurance operations of eastern insurance group, llc to arthur j. gallagher & co. and enters into definitive agreement to merge with cambridge bancorp

Boston--(business wire)--eastern bankshares, inc. (“eastern” or the “company”) (nasdaq global select market: ebc), the stock holding company for eastern bank, announced that its wholly owned subsidiary eastern insurance group, llc (“eastern insurance”) today entered into a definitive agreement to sell its insurance operations to arthur j. gallagher & co. (nyse: ajg) (“gallagher”) for approximately $510 million (“the insurance transaction”). also today, eastern and cambridge bancorp (nasdaq:.
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