USI Insurance Services Acquires Beneficial Insurance Services

USI Expands Commercial, Employee Benefit and Personal Risk Presence in Mid-Atlantic Region

VALHALLA, N.Y., Oct. 22, 2018 (GLOBE NEWSWIRE) -- USI Insurance Services (“USI”), a world leader in insurance brokerage and risk management, today announced the acquisition of Philadelphia, Pa.-based Beneficial Insurance Services, a wholly owned subsidiary of Beneficial Bancorp, Inc. Founded in 2005, the insurance brokerage provides commercial property and casualty, personal risk, and employee benefit solutions to clients in the Mid-Atlantic region. Terms of the transaction were not disclosed.

Commenting on the announcement, John J. Micale, USI Mid-Atlantic regional CEO, said: “We look forward to welcoming the clients and experienced professionals from Beneficial Insurance Services to the USI family. This new partnership affirms USI’s commitment to delivering an unparalleled client service experience for organizations throughout the Mid-Atlantic region.”

Joseph F. Robinson, president, Beneficial Insurance Services, added: “We are thrilled to be joining forces with one of the top insurance brokerage and risk management firms in the business. From USI’s proprietary analytics, expansive network of local and national resources, to their team-based enterprise planning process – we look forward to leveraging the USI ONE Advantage^® approach to deliver innovative, best-in-class solutions to our current and future clients.”

About USI 
USI is one of the largest insurance brokerage and consulting firms in the world, delivering property and casualty, employee benefits, personal risk and retirement solutions to large risk management clients, middle market companies, smaller firms and individuals. Headquartered in Valhalla, New York, USI connects together over 6,000 industry-leading professionals across more than 150 offices to serve clients’ local, national and international needs. USI has become a premier insurance brokerage and consulting firm by leveraging the USI ONE Advantage^®, an interactive platform that integrates proprietary and innovative client solutions, networked local resources and enterprise-wide collaboration to deliver customized results with positive, bottom line impact. USI attracts best-in-class industry talent with a long history of deep and continuing investment in our local communities. For more information, visit usi.com or follow us on LinkedIn, Facebook, or Twitter.

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Edward J. Bowler
                    USI Insurance Services
                    914-749-8504
                    ed.bowler@usi.com
                    
                    Timothy Denton
                    USI Insurance Services
                    914-747-6339
                    timothy.denton@usi.com