New York’s insurance broker USI Insurance Services (USI) has purchased J Princinsky & Associates, (RJP), a Maryland-based full service group benefits (insurance) agency specializing in strategic benefits planning, for an undisclosed sum.
Founded in 1976, RJP has teamed up with both corporate and non-profit, to offer a one source services for employee benefits programs, focusing on strategic planning, regulatory compliance, custom benefits communications and retirement plan services, among others.
Following completion of the acquisition, USI’s employee benefit capabilities will be significantly strengthened in Maryland.
It will further boost the company’s position as one of the leading employee benefits brokerage firms in the MidAtlantic region as well as across the country.
RJP president and owner Richard Princinsky said, "Through this partnership, our clients will have access to USI’s full suite of customized risk management and benefit products while enjoying the high level of service that they have come to expect."
USI DC Metro president and healthcare practice leader John Micale commented, "Our new partner will significantly accelerate our current expansion into healthcare reform navigation, strategic benefits planning and wellness solutions for our MidAtlantic clients."
In September, USI acquired Alliance Benefit Solutions, an independent insurance company located in Shelton, Connecticut, which designs and implements employee benefits and wellness programs for individuals, families and companies of all sizes.
Instituted in 1994, USI operates out of nearly 100 offices across the US.