USI Insurance Services said it completed its acquisition of Cohen-Seltzer Inc., in Fort Washington, Penn. Terms of the transaction were not disclosed.
A third generation family-owned insurance agency formed in 1926, Cohen-Seltzer, Inc., provides risk management programs and financial products for both commercial and personal lines of business. USI said it is combining its existing USI Plymouth Meeting, Penn., office with Cohen-Seltzer. USI said the move will extend its reach as one of the largest middle-market insurance brokerage firms in the MidAtlantic region.
“This acquisition enables us to further expand our market share in the MidAtlantic and plays an important role in USI’s mission of becoming the national brand in the middle market and specialty market,” said Michael J. Sicard, CEO and chairman of USI.
USI, based in Briarcliff Manor, N.Y., is ranked as one of the 10-largest insurance brokerages in the United States. Founded in 1994, USI has more than 3,300 employees in some 100 offices across the country. Last year, USI was acquired by private equity firm Onex Corporation for approximately $2.3 billion.
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