First Niagara Risk Management Completes Transition to KeyBank

FNRM Now Named Key Insurance & Benefits Services, Inc.

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Dec 19, 2016, 08:40 ET

BUFFALO, N.Y., Dec. 19, 2016 /PRNewswire/ -- First Niagara Risk Management, a nationally known insurance agency, is now a subsidiary of KeyBank, operating under the name Key Insurance & Benefits Services, Inc. (KIB).

"We're excited to take the final step toward joining KeyBank as part of Key's acquisition of First Niagara Financial Group," said Kirk Jensen, KIB managing director and senior executive. The acquisition was completed July 29, 2016, creating the 13^th largest US-based bank.

"While we've changed our name, our dedication to our clients remains the same. We're still evaluating all the ways we can tap KeyBank's resources to do even more for our clients. We anticipate being able to provide similar exceptional client service to KeyBank clients.

"KeyBank is a nationally known bank with deep roots in Western New York and deep enthusiasm for connecting with clients in markets that are new to Key. Joining KeyBank gives us a strong foundation for growth," Jensen said.

KIB offers businesses solutions to protect commercial clients' resources and assets as well as means to protect their employees' health and welfare. KIB also offers personal insurance to protect what they value, including homes, automobiles and other valuable assets.

KIB is one of the largest providers of risk financing, employee benefits and risk reduction services in the Northeast, with more than 350 team members in seven offices throughout New York, Pennsylvania and Connecticut. Reagan Consulting in August 2016 named the agency a "best practices" agency, an honor given to the top 1 percent of insurance agencies/brokers in the United States.

"Kirk's team is respected industry-wide for their client service, particularly their innovative work helping commercial clients identify, manage and mitigate risk," said Terry Jenkins, who oversees KIB as Key Private Bank president. "I'm very impressed with this team's depth and breadth of experience. I am confident our clients will reap immediate benefits as KeyBank and KIB work together to provide solutions that make the most of clients' heir business and personal opportunities."

About KeyCorp

KeyCorp's (NYSE: KEY) roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $136 billion at September 30, 2016. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

About KIB

Key Insurance & Benefits Services, Inc. offers commercial insurance, captive insurance, employee benefits, personal insurance and third-party administration services. KIB professionals partner with clients to create customized risk solutions that reduce loss and financial risk and improve clients' bottom line. KIB operates in seven offices in Connecticut, New York and Pennsylvania.

Insurance services, benefits consulting services and insurance products are offered through Key Insurance & Benefits Services, Inc. ("KIB"), which is a licensed insurance broker and agent. Insurance policies are obligations of the insurers that issue the policies. Insurance products may not be available in all states. KIB and KeyBank are separate entities, and when you purchase risk management services, business consulting services or insurance products you are doing business with KIB, and not KeyBank.

Insurance Products offered are: Not FDIC-insured; not a deposit in, obligation of, nor insured by any federal government agency; not guaranteed or underwritten by the bank; not a condition to the provisions or terms of any banking service or activity.

SOURCE KeyBank