John Collado, USI’s Southwest RCEO, said: “Through our acquisition, we have attained an experienced staff that truly understands the construction insurance and bonding market and will help us to extend our reach throughout Texas."
Valhalla, N.Y. (PRWEB) July 14, 2015
USI Insurance Services (“USI”) announced that it acquired the property-casualty business of Alexander & Associates Insurance Services, LLC (“Alexander & Associates”). This acquisition reinforces USI’s presence as the leading middle market insurance brokerage and consulting firm in Texas, and complements the Company’s wide range of personal risk services, commercial property-casualty, employee benefits and retirement consulting offerings. This business and its employees will join USI’s El Paso, Texas, office. Terms of the transaction were not disclosed.
John D. Collado, USI’s Southwest regional chief executive officer, said: “Through our acquisition of Alexander & Associates, we have attained an experienced staff that truly understands the construction insurance and bonding market and will help us to extend our reach throughout Texas. In addition, their reputation for using a resource-intensive, consultative planning process to find the shortest path from problem to solution is a perfect complement to the USI ONE Advantage™ strategy. I am pleased to welcome Jay and his team to the USI family.”
“Combining our P&C practice with USI will enable our clients to benefit from an expanded suite of products and services while maintaining the level of specialized customer care we have become known for throughout Texas. In addition, we will have the opportunity to draw upon USI’s networked team of local and national experts who leverage proprietary business analytics to deliver cost-saving risk management programs that will preserve our clients’ assets and help to drive future growth,” said Jay D. Alexander, Alexander & Associates’ president.
About USI Insurance Services
USI has more than 4,400 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, and is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 3rd largest privately held insurance broker(1), the 4th largest privately held commercial lines broker in the United States(2), and the 12th largest insurance brokerage firm in the world(3). USI is also the 3rd largest privately held personal lines broker in the United States(2) and the 7th largest benefits broker ranked by global benefits revenue(4). USI has been recognized for its innovation by Information Week 500 and Best’s Review January 2014 Innovation Showcase. Visit the Company’s website at http://www.usi.biz.
1 Business Insurance Largest Privately Owned Brokers, July 21, 2014
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines (excludes non standard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2015, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014