USI Insurance Services Announces the Closing of the Acquisition of Key Insurance & Benefits Services

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| Source: USI Insurance Services

VALHALLA, N.Y., May 07, 2018 (GLOBE NEWSWIRE) -- USI Insurance Services (“USI”) announced today the closing on the acquisition of Key Insurance & Benefits Services, Inc., formerly part of KeyBank (“KEY”). Headquartered in Buffalo, N.Y., Key Insurance & Benefits Services, Inc. is a leading regional provider of risk management and employee benefit solutions with 350 teammates working in eight offices in upstate New York, Pennsylvania and Connecticut. Terms of the transaction were not disclosed.   

Michael J. Sicard, chairman and CEO, USI said: “We are very excited to welcome Kirk and this highly experienced team of professionals to USI.  Like USI, this team brings tremendous insight and expertise, and a strong dedication to outstanding client service. Together we are investing heavily and expanding in great communities including Buffalo, Rochester, Pittsburgh, Norwalk and cities across New York, Connecticut, Pennsylvania and across the country. We are delighted to combine our strengths to create the USI ONE Advantage® — providing a different and better set of solutions and services for clients while building an exceptional place for our people as we actively invest and expand for the future.”

Kirk L. Jensen, president, Key Insurance & Benefits Services, said: “We are thrilled to be joining an industry leader. Not only will our clients continue to benefit from the personalized local services they have come to expect from our dedicated team, but now they will also have access to USI’s expanded suite of best-in-class solutions, tools, and national resources to help protect and grow their business.”

About USI
USI is one of the largest insurance brokerage and consulting firms in the world, delivering property and casualty, employee benefits, personal risk, program and retirement solutions to large risk management clients, middle market companies, smaller firms and individuals. Headquartered in Valhalla, New York, USI connects together over 6,000 industry leading professionals across more than 150 offices to serve clients’ local, national and international needs.  USI has become a premier insurance brokerage and consulting firm by leveraging the USI ONE Advantage®, an interactive platform that integrates proprietary and innovative client solutions, networked local resources and expertise, and enterprise-wide collaboration to deliver customized results with positive, bottom line impact. USI attracts best-in-class industry talent with a long history of deep and continuing investment in our local communities. For more information, visit usi.com.

About KeyCorp

KeyCorp's (NYSE: KEY) roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $137.0 billion at March 31, 2018. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.


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Edward J. Bowler
USI Insurance Services
914.749.8504
ed.bowler@usi.com

Kim Van Orman
USI Insurance Services
914.749.8558
kim.vanorman@usi.com

Drez Jennings
KeyBank
216.471.2885
drez_i_jennings@keybank.com