May 8, 2018

USI Insurance Services buys former KeyBank benefits business

USI Insurance Services, which has operations in Connecticut, announced it has acquired an insurance and benefits business formerly owned by KeyBank.

USI said it has purchased Key Insurance & Benefits Services Inc., which provides risk management and employee benefit services and has eight offices in Connecticut, upstate New York, Pennsylvania.

Terms of the deal weren't released.

Key Insurance & Benefits Services is based in Buffalo. USI, which is an insurance brokerage and consulting firm based in New York, has a significant Connecticut footprint, including its USI Consulting Group in Glastonbury.

Michael J. Sicard, chairman and CEO, USI said Key and USI are "investing heavily and expanding in great communities including Buffalo, Rochester, Pittsburgh, Norwalk and cities across New York, Connecticut, Pennsylvania and across the country."

Kirk L. Jensen, president, Key Insurance & Benefits Services, said the merger gives clients access to USI's "expanded suite of best-in-class solutions, tools, and national resources to help protect and grow their business."

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