USI Insurance Services Acquires Beneficial Insurance Services
USI Expands Commercial, Employee Benefit and Personal Risk Presence in Mid-Atlantic Region
VALHALLA, NY — USI Insurance Services 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. Terms of the transaction were not disclosed.
Commenting on the announcement, John J. Micale, USI Mid-Atlantic regional CEO, said: “We look forward to welcoming the clients and experienced professionals from Beneficial Insurance Services to the USI family. This new partnership affirms USI’s commitment to delivering an unparalleled client service experience for organizations throughout the Mid-Atlantic region.”
Joseph F. Robinson, president, Beneficial Insurance Services, added: “We are thrilled to be joining forces with one of the top insurance brokerage and risk management firms in the business. 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.”