Broker grows with acquisition in Texas

Valhalla, New York-based broker USI Insurance Services L.L.C. announced Tuesday the acquisition of El Paso-Texas based broker Alexander & Associates Insurance Services L.L.C.

Employees of Alexander & Associates Insurance Services L.L.C. will join USI's El Paso, Texas, office. Terms of the transaction were not disclosed, according to a statement from USI Insurance Services.

The acquisition increases USI's presence in the Southwest construction market, the statement said.

USI is the 3rd largest privately held insurance broker and the 7th largest benefits broker ranked by global benefits revenue, according to Business Insurance's latest ranking.