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California Bank Combines Agency Units

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UnionBanCal Corp. is creating a new UnionBanc Insurance Services Inc. subsidiary.

UnionBanCal, San Francisco, the parent of Union Bank of California N.A., says the new unit will run the company’s Armstrong Robitaille Business and Insurance Services, John Burnham Insurance Services, Tanner Insurance Brokers and Knight Insurance Agency operations.

The insurance operations, all acquired in the past 5 years, now employ a total of 415 insurance professionals and generate about $80 million in annual revenue, according to UnionBanCal.

The agencies are best known for selling commercial property-casualty coverage, but they also sell employee benefits and individual life and health products.