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USI closes Wells Fargo deal

May 5, 2014 - 12:28pm


USI Insurance Services of Valhalla, New York, closed on the acquisition of 40 insurance brokerage and consulting locations Wells Fargo Insurance, part of Wells Fargo & Co., USI said in a statement early Monday.

Terms of the transaction were not disclosed.

USI said the acquisition further strengthens its presence as one of the leading middle-market insurance brokerage and consulting firms in the country, and complements the company's full suite of property-casualty, employee benefits, personal lines, retirement and specialty offerings.

“We are very excited to be welcoming to USI such a talented group of experienced insurance professionals across these 40 offices,” Michael J. Sicard, USI's chairman, president and CEO, said in the statement. “These are cities in which USI is looking to invest, expand and grow. We welcome all of our new clients and associates across the country and look forward to growing together.”

Matthew Lerner