USI Insurance Services announced that it has acquired the construction insurance and surety business of Chester, New Jersey-based KORE Group Inc., doing business as Construction Agency Professionals (CAP). This business and its employees will join USI’s West Orange, New Jersey, office. Terms of the transaction were not disclosed.
CAP is a retail insurance broker providing insurance and surety products directly to construction companies and contractors. USI said this acquisition further strengthens USI’s footprint in the construction risk services in the New York metropolitan markets.
With more than 4,400 professionals across over 140 offices throughout the U.S., USI is an insurance brokerage and consulting firm providing property/casualty, employee benefits, personal risk services, retirement, program and specialty services. USI reports approximately $1.0 billion in annualized revenue.
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