USI Holdings, a distributor of property and casualty insurance and employee benefits products, has completed the acquisition of New Jersey operation of Kinloch from Kinloch Holdings.
The New Jersey operation of Kinloch specializes in commercial property & casualty and employee benefits insurance for middle-market businesses and is expected to contribute approximately $5.1m in revenues to USI on an annual basis.
USI chairman, president and CEO Michael Sicard said Kinloch’s New Jersey operation is a great complement to USI’s existing operation in New Jersey.
“By combining the two operations, we will become one of the largest middle-market insurance brokerage firms in New Jersey.
“We expect the synergies created by the combination of the two operations to benefit the clients of both companies through expanded and enhanced product offerings. I am pleased to officially welcome the Kinloch’s New Jersey insurance professionals to the USI team,” Sicard said.