USI Insurance Services has acquired the assets of Virginia-based The Pinnacle, a move that strengthens its existing MidAtlantic organization and rapidly expanding employee benefit practice in the state.
The acquisition is expected to contribute approximately $3.3m in annual revenues to USI while terms of the transaction remain undisclosed.
USI’s MidAtlantic Regional CEO Steven Deal said that Pinnacle under Anthony Jernigan’s leadership has a reputation for superior client service in the Hampton Roads area.
"This acquisition reinforces USI’s current position as one of the leading insurance brokerage firms in the state and our focus on providing exceptional consulting services to clients," Jernigan said.
Pinnacle is a full-service employee benefits consulting firm specializing in middle-market business.
USI, founded in 1994, is a distributor of property and casualty and employee benefits products to businesses throughout the US and operates out of 74 offices in 23 states.