A recent development is a signal NAIC has taken it regulatory reach to a new level.
USI Insurance Services announced the closing of the acquisition of Quintessential Advisors headquartered in Dayton, Ohio.
Terms of the transaction were not disclosed.
According to a release, Quintessential Advisors was founded in 1995 as an independent firm with experienced financial professionals specializing in insurance, investments and employee benefits. The addition of Quintessential Advisors to the USI family extends the presence of USI as a property and casualty and employee benefits firm in the Midwest region and nationally.
"The combination of our practices enables us to offer enhanced products and services to our customers, and allows for strategic partnering in growth opportunities," said Robert J. Cornett, Jr., co- partner of Quintessential Advisors. "We are excited to be joining USI, and we remain committed to serving our clients with problem- solving capabilities that help them better manage their risk in a cost-effective manner."
Judith K. Williams, co-partner of Quintessential Advisors, said: "USI's approach of providing locally coordinated expertise combined with nationally recognized, technical resources is an excellent fit for our clients. Bob and I look forward to working with Tom and his team, and to growing the business with an eye on creativity, the bottom line, thoroughness and integrity."
Thomas D. Cassady, regional chief executive officer for the USI Midwest region, said: "The acquisition expands our employee benefit practice into the Dayton, Ohio market where we believe we can grow successfully with our clients by improving the adverse trends of healthcare. Quintessential's reputation for providing quality service and innovative benefits solutions is a perfect complement to USI's value proposition, and I look forward to working with Bob and Judi to provide expanded services to their clients as well forging new customer relationships at this new location for USI."
Quintessential Advisors represents a team of professionals qualified to evaluate the efficient use of its clients' dollars.
USI is an insurance broker.
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