U.S.I. Acquires BMI In Calif.
|NU Online News Service, Oct. 9, 2:35 p.m.EDT?U.S.I. Holdings Corporation announced it has acquiredLong Beach, Calif.-based BMI Insurance Services, Inc.
|Terms of the transaction were not disclosed.
|Founded in 1918 by Berry Merritt Sr., BMI providesproperty-casualty insurance and employee benefits to small andmid-sized businesses and to individuals. BMI has developedspecialized products and strategies for property owners andproperty managers.
|According to U.S.I., BMI's clients will have access to productsand services provided by U.S.I.
|Briarcliff Manor, N.Y.-based U.S.I. said BMI will be fullyintegrated into U.S.I.'s existing Southern California operations.The firm said it expects the acquisition to contributeapproximately $4.8 million of revenues to U.S.I. over the nextyear.
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