Briarcliff Manor, N.Y.-based insurance broker USI Holdings Corporation said it has acquired Memphis, Tenn.-based H.W. Gates Agency Inc.
H.W. Gates provides property-casualty insurance products and services to businesses throughout the Memphis-metro area. The agency is expected to contribute approximately $1 million of revenues to USI on an annual basis.
Jeffrey J. Haynes, chief executive officer of USI Southeast Region, said in a statement: "At USI, our commitment is to delivering high-quality solutions to our clients. At the same time, we continue to target acquisition candidates that will increase our organic growth and ability to cross-sell. Gates will enhance our existing Memphis operation with property and casualty expertise and provide an opportunity for us to bring our employee benefits expertise to their existing clients."
"Gates is proud to serve the Memphis community with a commitment to custom-fit solutions and services," said H. William Gates, president of the Gates Agency. "By joining USI, we are well positioned to continue delivering exceptional quality with an expanded selection of products and services."
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.