Valhalla, N.Y.-based USI Insurance Services has entered into an agreement to acquire Van Gilder Insurance Corp. in Denver, Colo.
This deal is expected to close on Dec. 10. Terms were not disclosed.
Van Gilder is a full-service insurance brokerage firm serving clients in the Rocky Mountain region and across the United States. The company offers business insurance, employee benefits programs, risk management services and personal insurance products for individuals.
The 100-plus-year-old firm recently endured some public scrutiny when former CEO Michael Van Gilder was charged with five counts of insider trading. He pled not guilty in federal court last year, and then announced he was stepping down for personal reasons. In August of this year he got five years’ probation, six months home detention and a fine in the case.
By acquiring Van Gilder, USI’s footprint has been extended into the Rocky Mountain region. Van Gilder will change its name to USI Colorado, however the company’s office and employees will remain in Denver and Van Gilder President Donald McG. Woods and Chief Financial Officer Edward M. Harrington Jr. will remain in their leadership roles, according to the company.
USI operates out of roughly 100 offices across the U.S.
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