USI Acquires Program Business From Askin, Weber & Reed in N.J.

USI Insurance Services in Valhalla, New York, announced its acquisition of an insurance program business from Askin, Weber & Reed (AWR) in Freehold, New Jersey. Terms of the transaction, which has been completed, were not disclosed.

AWR has been involved as the insurance administrator of the New Jersey Society of Certified Public Accountants since the early 1950s, according to AWR’s website.

Under the transaction, USI Affinity — a division of USI — will become the insurance member benefits broker and administrator for the New Jersey Society of Certified Public Accountants, providing life, disability, long term care, accidental death & dismemberment, and business overhead expense insurance to cover the needs of members in private and public practice. USI said this transaction further strengthens USI’s specialty business in the U.S.

USI Affinity markets and administers insurance programs for more than 400 associations nationwide, representing more than 20 million members.

USI Insurance Services has approximately $1.0 billion in annualized revenue and operates out of more than 140 offices across the U.S.

Topics Mergers & Acquisitions New Jersey