NU Online News Service, April 13, 2004, 1:25 p.m. EDT – U.S.I. Holdings Corp., Briarcliff Manor, N.Y., has agreed to acquire Dodge, Warren & Peters Insurance Services Inc., Los Angeles.[@@]
U.S.I. is a large, publicly traded insurance broker. Dodge, Warren is a privately held broker that generates about $25 million in revenue per year by selling employee benefits and other commercial insurance products.
U.S.I. is not disclosing the price of the deal, but it says it hopes to complete the acquisition in early May.
Dodge, Warren was founded in 1977 and now has 4 offices in Southern California.
Combining the Dodge, Warren offices with U.S.I.’s existing Southern California operation will create one of the largest middle-market brokers in the region, U.S.I. says.