East Boston Savings Bank is moving into insurance.

The company announced Friday that it will form a strategic alliance with Starkweather & Shepley Insurance Brokerage Inc., giving both financial service institutions the ability to offer a full line of commercial, personal and life insurance products.

The formation of this alliance will enable both organizations to expand the services offered to their respective clients throughout New England, enhancing the strategic goals of both organizations based on the synergies of their client base, geographical footprint, product offerings and industries served.

“Every person we are connected with; both employees and customers alike, need insurance protection and we often get requests to assist people with their insurance needs,” Richard J. Gavegnano, president, CEO and chairman of East Boston Savings Bank, said in a statement. “We found that S&S can consistently provide insurance solutions that are a perfect fit for our customers in addition to fitting seamlessly into our geographic footprint. We are thrilled to have found S&S and look forward to referring their services as an option to our employees and customers.”

The roughly $5.4 billion asset EBSB has grown tremendously in recent years and it is not uncommon for larger community banks to offer insurance – Eastern Bank and Rockland Trust also offer their customers insurance.

Established in 1879, Starkweather & Shepley is the 68th largest insurance brokerage firm in the U.S. The company provides commercial and personal insurance, health and employee benefits, surety bonding and risk management services.

“We are very proud to be working with a distinguished financial institution such as East Boston Savings Bank that shares many of our core values and history,” Andrew Fotopulos, president of the Massachusetts division of Starkweather & Shepley, said in a statement. “The mantra ‘hard work’ is emphasized by EBSB in their marketing campaigns and that’s what we both will do in order to be the best provider of banking and insurance services.”