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New England Regional Bank To Sell SBLI Coverage

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Sovereign Bancorp Inc. has agreed to let Savings Bank Life Insurance Company of Massachusetts sell SBLI life insurance to its customers.[@@]

Sovereign, Philadelphia, is a large regional bank with $59 billion in assets and 650 branches in the Northeastern United States.

The Sovereign deal will make SBLI products available to customers in most New England states, Delaware, Maryland, New Jersey and Pennsylvania, according to SBLI, Woburn, Mass.