USI Insurance Services (USI) has entered into an agreement with certain subsidiaries of Willis North America (Willis), part of Willis Group Holdings, to acquire seven of Willis' retail insurance brokerage locations across the US.
These locations will expand USI’s footprint into new states, cities and markets where USI is looking to invest and grow.
The transaction is currently anticipated to close late 3rd/early 4th quarter of 2014. Terms of the transaction were not disclosed.
Michael J. Sicard, USI’s chairman, president and chief executive officer, explained, "We are excited to have this accomplished, experienced group of insurance professionals join us as new partners and associates.
These are new states and cities for USI – places we want to invest and grow in support of these great people, clients and communities.
USI continues our growth and expansion, from a single location 20 years ago to over 140 offices across the United States today. Our success has been based on delivering something compelling and unique to our clients and associates.
Under the agreement, USI would be acquiring the following locations: (Del.) Wilmington; (Fla.), Vero Beach; (Ga.) Savannah; (Ill.) Moline; (Kan.) Wichita; (Wyo.) Cheyenne, Mills. Employees of these Willis offices would be offered employment with USI at the close of the transaction.