Press release from USI Insurance Services
USI Insurance Services ("USI") announced the closing of the acquisition of Travers, O'keefe & Associates, Inc., ("Travers, O'keefe") headquartered in New York. Terms of the transaction were not disclosed. Travers, O'keefe's headquarters will be combined with USI's New York office and USI's Albany, N.Y. office will be combined with Travers, O'keefe's Saratoga, N.Y. office.
Travers, O'keefe was founded in 1986, built to serve the specific employer needs associated with the management of all employee benefit programs. Its offerings include benefits consulting, human resources services, and compliance and employee support that are targeted to a wide range of companies and industries. Through this acquisition, USI extends its presence as one of the largest property and casualty and employee benefits firms in the Northeast region and nationally.
James M. Butler, regional chief executive officer for USI Northeast region, said: "For over 25 years, Travers, O'keefe has been a full employee benefits solution firm that partners with clients to build customized strategies that deliver high levels of client satisfaction along with cost efficiencies. Their staff understands exactly how plan design, member demographics, claims experience and utilization affect premium rates. This is why they have been consistently recognized as one of New York's leading employee benefits firms, and we are very excited to have them join the USI family."
"Our firm prides itself on working smartly to understand our clients' needs and then crafting a strategy that includes comprehensive support, and ongoing analysis and review. By joining USI, we position ourselves to continue providing that same high-touch, local service our clients deserve and expect, however, now they can now tap into world-class resources and a wide range of insurance products that only a national firm, such as USI, can provide," said John Van Wie, managing partner of Travers, O'keefe's New York City division.
David M. Hogan, managing partner of Travers O'keefe's Upstate N.Y. division, said: "The combination of the talented, knowledgeable professionals of USI and our team will create an unmatched offering to the ever evolving employee benefits needs of our current and future clients. I am pleased to be joining the USI family and look forward to working with Jim to further grow our marketshare in New York."
About Travers, O'keefe & Associates, Inc.
Travers, O'keefe & Associates, Inc., was founded in 1986 and built to serve the specific employer needs associated with the management of all employee benefit programs. The company is headquartered in New York City and also has an office in Saratoga Springs, N.Y.
About USI Insurance Services
Founded in 1994, USI is the 10th largest insurance broker in the United States and the 14th largest in the world. USI is headquartered in Valhalla, NY, and operates out of approximately 100 offices across the United States. Additional information about USI may be found at www.usi.biz.
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Williams Mullen attorneys Larry Parker and Greg Bishop led the team that assisted USI.
View the original press release here.