NU Online News Service, Nov. 22, 2004, 5:43 p.m. EST Duck Key, Fla.
USI Holdings Corp., Briarcliff Manor, N.Y., has acquired Benefit Partners of America L.L.C., Nashville, Tenn.[@@]
USI is a large, publicly traded insurance broker.
Benefit Partners, founded in 1970 as Turner P. Williams & Associates, is a worksite marketing firm that designs, markets and administers voluntary insurance programs through payroll deductions for large employers.
USI says Benefit Partners will become part of its specialized benefits division, which includes 2 other recent worksite broker acquisitions, Custom Benefit Programs and Future Planning Associates. The combined operation would be one of the largest producers of voluntary benefits in the industry, USI says.
USI expects the acquisition will add about $4 million to its annual revenue. It did not disclose terms of the deal.