USI Acquires Euclid Insurance Retail Property & Casualty and Employee Benefits Division

USI Insurance Services ("USI") announced the acquisition of the Euclid Insurance Retail Property & Casualty and Employee Benefits Division ("Euclid Retail Business") from Euclid Insurance Services, Inc. The Euclid Retail Business, based in Itasca, Illinois, is expected to contribute approximately $7.3 million in revenues to USI on an annual basis. Terms of the transaction were not disclosed. Euclid Insurance Services, Inc., is retaining and currently expanding their health and life general agency business and their commercial managing general agency program businesses. Also unaffected by the sale is their Euclid Insurance Agencies, LLC, business located in Melbourne, Florida.

Euclid Retail Business specializes in commercial property & casualty and employee benefits insurance for middle-market companies and personal lines insurance for individuals throughout the Mid-West. The firm focuses on providing high value risk mitigation solutions to its clients through a variety of means including extensive policy form reviews, insurance plan design, loss control services, and in depth claim data analysis.

Commenting on the acquisition, Michael J. Sicard, USI's chairman, president, and CEO, said: "Euclid Retail Business is a great complement to our existing presence in the Greater Chicago Area. This acquisition strengthens our position as one of the leading middle market insurance brokerage firms in Mid-West and one of the largest middle market insurance brokerage firms in the United States. I am pleased to welcome professionals from Euclid Retail Business to our team."

John N. Colis, President and CEO of Euclid Insurance Services, Inc., said: "USI is an excellent fit for Euclid Retail Business employees and clients. USI shares our commitment to providing professional service that exceeds client expectations." About Euclid Insurance Services Formed in 1952, Euclid has grown to become one of the largest brokers in Illinois. Euclid operates as a health and life general agency and a commercial managing general agency through its Euclid Managers, Euclid Executive Liability Managers and Euclid Specialty Managers subsidiaries. Euclid is headquartered in Itasca, IL and has offices in Kansas City, MO, Fairfax, VA, New York, NY and Melbourne, FL. Additional information about Euclid may be found at www.euclidmanagers.com. About USI Insurance Services Founded in 1994, USI is a leading distributor of property and casualty and employee benefits products to businesses throughout the United States. USI is headquartered in Briarcliff Manor, NY, and operates out of 74 offices in 23 states. USI is a portfolio company of Goldman Sachs Capital Partners, a private equity affiliate of Goldman Sachs & Co. Additional information about USI may be found at www.usi.biz.