(Kenisco Dam, Valhalla, N.Y. Photo credit: Vincent de Lagabbe.)
USI Insurance Services (Valhalla, N.Y.), a provider of insurance brokerage and risk management solutions, has announced the acquisition of Philadelphia, Pa.-based Beneficial Insurance Services, a wholly owned subsidiary of Beneficial Bancorp, Inc. Founded in 2005, the insurance brokerage provides commercial property and casualty, personal risk, and employee benefit solutions to clients in the Mid-Atlantic region. The parties to the transaction did not disclose its terms.
“We look forward to welcoming the clients and experienced professionals from Beneficial Insurance Services to the USI family,” comments John J. Micale, Mid-Atlantic regional CEO, USI. “This new partnership affirms USI’s commitment to delivering an unparalleled client service experience for organizations throughout the Mid-Atlantic region.”
Expansive Network of Local and National Resources
“We are thrilled to be joining forces with one of the top insurance brokerage and risk management firms in the business,” comments Joseph F. Robinson, president, Beneficial Insurance Services. “From USI’s proprietary analytics, expansive network of local and national resources, to their team-based enterprise planning process—we look forward to leveraging the USI ONE Advantage approach to deliver innovative, best-in-class solutions to our current and future clients.”