trending Market Intelligence /marketintelligence/en/news-insights/trending/82sjsrzrhxz7udjp0rh9tg2 content esgSubNav
In This List

Exchange Underwriters merges with Pittsburgh-based insurance agency

Blog

Banking Essentials Newsletter: 7th February Edition

Blog

Insurance Underwriting Transformed How Insurers Can Harness Probability of Default Models for Smarter Credit Decisions

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Exchange Underwriters merges with Pittsburgh-based insurance agency

Exchange Underwriters Inc. merged with Pittsburgh-based independent insurance agency Beynon Insurance, effective Aug. 1.

In connection with the merger, William Cunningham will join Exchange Underwriters as COO. Beynon Insurance President Richard Beynon will join Exchange Underwriters as a consultant and a director.

Beynon Insurance clients will continue to work with the people that currently service them. There will also be no changes to current carriers and policies.

Beynon Insurance, a subsidiary of Beynon Real Estate and Insurance Co., offers property and casualty, liability and other insurance products for businesses and individuals. Exchange Underwriters is a wholly owned insurance subsidiary of Community Bank, which is part of CB Financial Services Inc.

Separately, CB Financial reported second-quarter net income of $1.1 million, or 22 cents per share, compared with $1.8 million, or 44 cents per share, in the prior-year quarter. A one-time merger expense of $614,000 primarily affected the company's net income for the recent quarter.