NU Online News Service, March 12, 1:32 p.m. EST
USI Holdings Corp. said it has acquired the insurance and financial services business of RA Bench, a Seattle-based insurance brokerage firm. Financial terms were not released.
The acquired RAB wealth management, executive and group employee benefit business, which will be integrated into USI's Seattle office, is expected to contribute approximately $3 million in revenues to USI on an annual basis, the company said.
Commenting on the acquisition, Michael J. Sicard, chairman, president and chief executive officer for Briarcliff Manor, N.Y.-based USI brokerage, said, "RAB is a great addition and complement to our existing wealth management and employee benefits practice in the Pacific Northwest."
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