USI Insurance Services (USI), a New York-based distributor of property and casualty insurance and employee benefits, has completed the acquisition of The Amerisc Corp, Atlynx Surety Brokers, and its principal affiliates.
Amerisc, based in New York, with an office in Nanuet, New York, specializes in commercial property and casualty, surety, and employee benefits insurance for middle-market businesses and is expected to contribute approximately $11m in revenues to USI on an annual basis.
USI chairman, president and CEO Michael Sicard said that Amerisc is a great addition and complement to the existing organization. By combining USI’s Woodbury office and Amerisc’s Garden City office under Phil Samuels and Frank Abbatiello’s leadership, the company will become one of the largest middle-market insurance brokerage firms in Long Island.
"In addition, the Nanuet office provides for expansion into the growing area of New York’s Rockland County, Hudson Valley, and Northern New Jersey," Sicard said.
Amerisc co-founder and president Philip Samuels said that by joining the USI team, Amerisc continues its tradition to enable the insurance professionals to provide the level of service and attention to help the clients manage their insurance risk.
Louis Spina, Douglas Cypes, Stephen Grieco, Anthony Martillotti, all former partners of Amerisc, will provide a wealth of knowledge, experience, and management skills to the Long Island and Rockland County operations.
Terms of the transaction were not disclosed.