USI Insurance Services (USI) has completed the acquisition of Alliance Benefit Solutions, an independent insurance company located in Shelton, Connecticut, for an undisclosed sum.
Established in 2002, Alliance Benefit Solutions designs and implements employee benefits and wellness programs for individuals, families and companies of all sizes.
Following completion of the transaction, USI aims to integrate its existing Westport, Connecticut office with Alliance Benefit Solutions office, a move which will strengthen its position as one of the largest employee benefits brokerage firms in the New England region.
USI New England regional CEO Joseph Fico said that Alliance Benefit Solutions has a reputation for helping customers navigate through complex healthcare landscapes, and delivering them a superior benefits plan with value-added support.
"This acquisition will undoubtedly further strengthen our position as a leading employee benefits broker in New England and plays an important role in USI’s vision of becoming the national brand in the middle market and specialty market," Fico added.
Alliance Benefit Solutions president and founder Laurence Cass, Jr., said, "The combination of the company’s employee benefits practices will enable us to offer additional products and services to individuals, families and businesses, and it also allows for strategic partnering in future growth opportunities.
In July 2013, USI acquired Cohen-Seltzer, a third generation family-owned insurance agency in the US, for an undisclosed amount to further expand its market share in the MidAtlantic.
Established in 1994 and headquartered in New York, it operates out of nearly 100 offices across the US.