Proceeds from the sale provide the bank with "flexibility to evaluate and pursue various strategic initiatives to redeploy capital in support of our core banking business," Evans CEO David Nasca said.

The transaction is expected to close early next year.

The private equity firm is planning to solicit interest in the Waltham, Massachusetts-based company in 2024, said the people, who asked not to be identified discussing confidential information.

The Southeast regional bank plans to use the deal's sizable proceeds to pay down wholesale borrowings and restructure its securities portfolio. Numerous banks have made similar moves in recent months.

The acquisition will expand Aon's outreach in India's commercial risk, health and reinsurance sectors.

A new Chubb report identifies business trends and evolving risks affecting mid-market companies.

Meaningful progress on DEI initiatives has a real effect on the workforce. We examine the dynamics that drive this conclusion and what it means for companies.

M&T Bank, Truist Financial and Eastern Bankshares are among the banks that have sold all or part of their insurance subsidiaries over the last year. Though the price is right, analysts warn that when interest rates decline, sellers will be without a key source of fee income.

The deal is expected to be completed later this year, subject to regulatory approval. Marsh did not disclose the terms of the deal.

Metrics can help determine what employees need to make the most of in-office time.