USI Insurance Services Acquires Richard J. Princinsky & Associates. [Professional Services Close – Up]

USI Insurance Services ("USI") announced the closing of the acquisition of Richard J. Princinsky & Associates, Inc., ("RJP") located in Hunt Valley, MD. Terms of the transaction were not disclosed.

According to the company, RJP has partnered with businesses, both corporate and non-profit, to provide a one source solution for employee benefits programs focusing on strategic planning, regulatory compliance, HR support, corporate wellness solutions, custom benefits communications and retirement plan services. The acquisition expands USI's employee benefit practice into the state of Maryland, and further enhances the Company's position as one of the leading employee benefits brokerage firms in the MidAtlantic region and nationally.

"For more than 37 years, RJP has been successfully helping employers develop, understand and manage their group insurance and benefits so they can focus on what they do best - running their businesses," said Michael J. Sicard, chairman, president, and chief executive officer of USI. "With Rick and the entire team, USI welcomes a talented group of expert professionals, and I look forward to leveraging our combined strengths as a market leader with unique breadth and depth of resources."

"RJP's strong relationships are a perfect match for USI's consultative approach of providing custom insurance solutions in the middle market space," said Richard J. Princinsky, president and owner of RJP. "Through this partnership, our clients will have access to USI's full suite of customized risk management and benefit products while enjoying the high level of service that they have come to expect. We are pleased to be joining the USI team, and I look forward to continuing our long-standing tradition of providing the personal attention and comprehensive services that benefit our clients' businesses."

John J. Micale, USI DC Metro's president and healthcare practice leader, said, "RJP's ability to deliver high quality, cost effective employee benefit solutions fit perfectly with our strategy. Our new partner will significantly accelerate our current expansion into healthcare reform navigation, strategic benefits planning and wellness solutions for our MidAtlantic clients. We couldn't be more pleased to have Rick and his team join us and welcome them to the USI family."

Located in Hunt Valley, MD, RJP is a one source solution for employee benefits programs, focusing on strategic planning, regulatory compliance, HR support, corporate wellness solutions, custom benefits communications and retirement plan services.

USI is an insurance broker in the United States and the 14th largest in the world.

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