USI Insurance Services announced the closing of the acquisition of Oscar & Associates, an employee benefit wholesale broker in West Caldwell, N.J. Terms of the transaction were not disclosed.
Oscar & Associates will be combined with Emerson Reid LLC, USI’s benefit wholesale operation in New York City. USI said the acquisition reinforces Emerson Reid’s position as the largest employee benefit wholesaler in the Northeast tri-state area. USI said Emerson Reid has seven office locations and manages over $3 billion in healthcare premium, over 10,000 group statutory disability policies and more than 5,000 ancillary line cases.
Founded in 1994, USI is the 10th largest insurance broker in the United States. USI is headquartered in Valhalla, N.Y., and operates out of approximately 100 offices across the country.