Broker enhances construction expertise with acquisition

USI Insurance Services L.L.C. has purchased the property/casualty construction and surety business of retail brokerage KORE Group Inc., which does business as Construction Agency Professionals.

Details of the transaction were not disclosed.

Construction Agency employees will join USI's West Orange, New Jersey, office, USI said Monday in a statement.

The deal will add to USI's presence in the New York area's construction industry. USI said it considers the Chester, New Jersey-based business to be a “perfect match” with its platform.

USI Holdings Corp., the parent of USI Insurance, is the ninth-largest broker of U.S. business, according to Business Insurance's latest ranking.