American insurance broker USI Insurance Services has acquired privately-owned, independent insurance brokerage and advisory firm Molton, Allen & Williams (MAW) for an undisclosed sum.
MAW will be integrated with the existing USI Birmingham office under MAW’s chairman and CEO John Williams, which will enable USI to boost its position as one of the largest property and casualty and employee benefits firms in the Southeast region and nationally.
Established in 1886 and headquartered in Birmingham, MAW delivers commercial and personal lines and employee benefits to clients across the Southeast.
USI Insurance Services chairman, president and CEO Michael Sicard said MAW’s reputation of delivering on large, complex risks is perfectly aligned with USI’s approach, which applies deep knowledge and technical resources to produce a breadth of solutions that drive down costs and strengthen a balance sheet.
"Through this acquisition, we partner with an experienced staff that will not only extend our presence in the Southeast but will help us realize our vision of becoming the national brand in the middle-market insurance brokerage industry," Sicard added.
MAW chairman and CEO John Williams stated, "Through our partnership, our clients will now have the benefits that come from a nationally recognized broker while still maintaining the deep, local relationships that have been cultivated over our many years."
USI manages nearly 100 offices across the US.
Image: USI Insurance Services buys insurance broker Molton, Allen & Williams. Photo courtesy of Chaiwat/ FreeDigitalPhotos.net.