USI Holdings has acquired the insurance and financial services business of RA Bench (RAB), a Seattle, Washington, based wealth management, executive and group employee benefit insurance brokerage firm.
Under the agreement, the RAB business will be integrated into USI’s existing Seattle office. RAB is expected to contribute approximately $3m in revenues to USI on an annual basis.
Michael Sicard, chairman, president and CEO of USI, said: “RAB is a great addition and complement to our existing wealth management and employee benefits practice in the Pacific Northwest.
“This acquisition strengthens our position as one of the largest insurance brokerage firms in the Pacific Northwest. I am pleased to welcome Rod Bench and the rest of the exceptional professionals from RAB to our team.”
Headquartered in Briarcliff Manor, NY, USI is a distributor of property and casualty insurance and employee benefits products to businesses throughout the US.