USI Insurance Services, a brokerage and financial service firm based in Briarcliff Manor, N.Y., has agreed to acquire TD Insurance Inc., a wholly-owned U.S. subsidiary of TD Bank, N.A. The terms of the deal were not disclosed.
USI said the acquisition is expected to contribute $58.2 million in revenues to USI on an annual basis. TD Insurance Inc. is one of the largest bank-owned insurance agencies and brokerage firms in the U.S., offering property/casualty insurance and employee benefits. It has 20 office locations from Maine to Florida with most of those concentrated in the U.S. Northeast.Read more...
(ref : Insurance journal, Aug 23, 2012)
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