Insurance broker USI Insurance Services has acquired The Amerisc Corp., Atlynx Surety Brokers and its principal affiliates.
Amerisc, based in Garden City, New York with an office in Nanuet, specializes in commercial property/casualty, surety and employee benefits insurance for middle-market businesses. The acquired businesses are expected to contribute approximately $11 million in annual revenue to USI, which is based in Briarcliff Manor, New York.
Terms of the transaction were not disclosed.
Amerisc’s office in Garden City will be combined with USI’s Woodbury office, into what USI Chairman and CEO Michael J. Sicard said would be the one of the largest middle-market insurance brokerage firms in Long Island.
Philip G. Samuels, co-founder and president of Amerisc, will lead the combined office along with Frank Abbatiello, co-founder and vice president of Amerisc. Former Amerisc partners Louis J. Spina, Douglas W. Cypes, Stephen Grieco, Anthony Martillotti will also join USI.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
US P/C Industry Books Best Result in a Decade but Not All Lines Enjoy Success 
Allianz Unit to Cut as Many as 1,800 Jobs in Push to Adopt AI 
Florida Property Tax Cut Plan Relies on Population Boom That Has Slowed Dramatically 
Farmers to Pay $2.8M to Settle TPCA Class Action Lawsuit 
