USI Holdings Corp. in Briarcliff manor, N.Y. has closed on the previously announced acquisition of Seattle-based Kibble & Prentice Holding Co.
Kibble & Prentice is expected to contribute approximately $37 million of revenues to USI on an annual basis.
Founded in 1972, Kibble & Prentice is one of the largest independent insurance brokers in the Pacific Northwest. The company reports having a diversified revenue mix with approximately 44 percent of revenues derived from property and casualty, 34 percent of revenues derived from employee benefits and 22 percent of revenues derived from other financial services.
The combination of Kibble & Prentice with USI’s existing Seattle operation will create one of the largest middle market brokers in the Pacific Northwest, according to the firms.
USI is headquartered operates out of 63 offices in 19 states.
Source: USI Holdings Corporation
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