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 acquired Long Beach, Calif.-based BMI Insurance Services, Inc.
Terms of the transaction were not disclosed.
Founded in 1918 by Berry Merritt Sr., BMI provides property-casualty insurance and employee benefits to small and mid-sized businesses and to individuals. BMI has developed specialized products and strategies for property owners and property managers.
According to U.S.I., BMI's clients will have access to products and services provided by U.S.I.
Briarcliff Manor, N.Y.-based U.S.I. said BMI will be fully integrated into U.S.I.'s existing Southern California operations. The firm said it expects the acquisition to contribute approximately $4.8 million of revenues to U.S.I. over the next year.
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