U.S.I. Acquires Ohio Broker
NU Online News Service, Dec. 17, 11:51 a.m. EST?U.S.I. Holdings has acquired O'Leary- Kientz Inc., an insurance broker based in Cincinnati, Ohio. No terms were announced.
U.S.I., based in Briarcliff Manor, N.Y., said this acquisition will be fully integrated with its existing Cincinnati operation. The firm added that O'Leary-Kientz is expected to contribute approximately $4.5 million in revenues to U.S.I. over the next twelve months.
O'Leary-Kientz was established in 1980. It provides risk management and insurance services to clients. The firm has a specialty in construction insurance and surety services.
Thomas W. Chatham, president and chief executive officer of O'Leary-Kientz, will assume the new role of president of U.S.I. Midwest's commercial division and join the management team of U.S.I. Midwest.
U.S.I. said that this acquisition will solidify its position as one of the largest insurance brokerage firms in the southern Ohio region.
David L. Eslick, U.S.I.'s chairman, president and CEO, said the firm is committed to growth through acquisitions of strong agencies.
U.S.I. said that more complete details of the acquisition would be released in its annual report.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
