USI Acquires Richard B. Cross

USI Holdings Corporation on Wednesday announced the closing of the previously announced acquisition of Cincinnati, Ohio-based Richard B. Cross & Associates Inc. Terms of the transaction were not disclosed.

Cross has been providing retail benefits solutions including group insurance, account services, employee communication and consulting services to clients in the greater Cincinnati area since 1981. The combination of USI’s existing Cincinnati operation with Cross will create one of the largest middle market insurance brokerage operations in the greater Cincinnati area. Cross is expected to contribute approximately $5.2 million of revenues to USI on an annual basis.

Founded in 1994, USI is a distributor of insurance and financial products and services to businesses throughout the United States. USI is headquartered in Briarcliff Manor, N.Y., and operates out of 73 offices in 19 states. Additional information about USI may be found at www.usi.biz.

Topics Mergers & Acquisitions