USI Insurance Services Acquires Cohen-Seltzer [Professional Services Close – Up]

USI Insurance Services ("USI") announced the closing of the acquisition of Cohen-Seltzer, Inc., in Fort Washington, PA. Terms of the transaction were not disclosed.

In a release, the company noted that a third generation family- owned insurance agency formed in 1926, Cohen-Seltzer, Inc., provides risk management programs and financial solutions for both commercial and personal lines of business. By combining the existing USI Plymouth Meeting, PA office with Cohen-Seltzer, USI extends its reach as a middle-market insurance brokerage firms in the MidAtlantic region.

Michael J. Sicard, president, chief executive officer and chairman of USI, said, "I am very excited to be expanding our existing operations with Cohen-Seltzer. Bob and his team are known for not just selling policies, but offering creative business solutions that successfully reduce risk and protect assets continually. As a customer-centric organization that prides itself on a team-shared approach, their core values align perfectly with USI's resource-intensive, consultative business model. This acquisition enables us to further expand our market share in the MidAtlantic and plays an important role in USI's mission of becoming the national brand in the middle market and specialty market. I couldn't be more pleased to have Bob, Dan and their talented team join us."

"We look forward to partnering with USI," said Robert S. Seltzer, chairman of Cohen-Seltzer, Inc. "For almost 100 years, Cohen- Seltzer has been providing businesses and their families the guidance they need to make the best decisions and protect their assets. With this acquisition, we will continue to provide the local, individual attention our clients have come to expect, but they will now have the added benefit of enjoying expanded solutions and a deep pool of resources that comes from partnering with a nationally-recognized insurance brokerage firm such as USI."

Alexander S. Cohen & Company was established by Cohen in 1926. Robert S. Seltzer joined the firm in 1956 and the firm's name changed to Cohen-Seltzer, Inc. Bob's son, B. Daniel Seltzer, trained at Lloyd's of London and joined the firm in 1982. He is currently serving as Cohen-Seltzer's president and chief executive officer and when asked about the acquisition, Daniel Seltzer said, "Cohen- Seltzer shares in USI's value proposition of providing clients with a comprehensive risk management plan that digs out the salient questions and expands the dialogue from an insurance checklist to a proven and measureable process. I am thrilled to be joining USI and its experienced group of insurance professionals, and I look forward to working with Mike and his team on further accelerating strategic growth opportunities in the MidAtlantic region."

More Information:

http://www.cosel.com

http://www.usi.biz

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