Banker & Tradesman file photo

Eastern Bank’s insurance division has made its second acquisition this year and its 36th acquisition over the past 20 years.

Eastern Insurance Group LLC, a wholly owned subsidiary of Eastern Bank, acquired the operating assets of Newtonville-based John T. Burns Insurance Agency Inc., the bank said in a statement this week. The transaction was effective Aug. 1.

Burns Insurance is a full-service insurance agency that has been family owned and operated since 1892.

“We are proud of what we have built in our community offering our customers the best service and welcoming them as part of our family,” Steven Oakes, president of Burns Insurance, said in the statement. “Now, with more choices to extend to our personal and commercial customers, and with the breadth and historic strength of Eastern Insurance, we will be better equipped to serve those customers in the future.”

Headquartered in Natick, Eastern Insurance Group is licensed in all 50 states and provides personal and commercial insurance products and employee benefits services to more than 75,000 individuals and businesses.

“Burns Insurance has been known for their strong customer relationships for over a hundred years,” Tim Lodge, president and CEO of Eastern Insurance Group, said in the statement. “Steve Oakes and Ed Timmerman have worked closely with many long-standing customers who we look forward to welcoming to Eastern Insurance Group.”

Eastern’s Insurance Division Makes Another Acquisition

by Banker & Tradesman time to read: 1 min