New York-based firm buys Savannah insurance brokerage
VALHALLA, N.Y. — USI Insurance Services has agreed to buy seven Willis retail insurance brokerage locations across the United States, including one in Savannah.
The company said in a news release that the locations will expand USI’s footprint into new states, cities and markets where USI is looking to invest and grow. The transaction is expected to close late in the third or early in the fourth quarter, according to the announcement.
No terms of the transaction were disclosed.
Michael J. Sicard, USI’s chairman, president and CEO, said his firm has grown from a single location 20 years ago to more than 140 offices across the United States.
“Our success has been based on delivering something compelling and unique to our clients and associates,” Sicard said. “We look forward to doing that in our new locations and to welcoming our new colleagues.”
Under the agreement, USI will acquire the following locations: Savannah; Wilmington, Del.; Vero Beach, Fla.; Moline, Ill.; Wichita, Kan.; and Cheyenne and Mills, Wyo. Employees of these offices will be offered employment with USI at the close of the transaction, the announcement said.
Gas prices up slightly in metro Savannah
Average retail gasoline prices in Savannah have risen 2.6 cents a gallon in the past week to $3.32 a gallon on Sunday, according to GasBuddy’s daily survey of 262 gas outlets in Savannah.
The national average has increased 2.3 cents a gallon in the last week to $3.49, according to gasoline price website GasBuddy.com.
Prices Sunday were 10.4 cents a gallon lower than the same day one year ago and are 11.1 cents a gallon lower than a month ago. The national average has decreased 8.9 cents a gallon during the last month and stands 4.2 cents lower than this day one year ago.
“The national average has now dropped to its lowest level since February, and with the end of the summer driving season nearing, we’ll likely see gas prices continuing the downward trend,” said
GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.
“For motorists, we’re nearing the point that gasoline demand drops- after Labor Day- and also the upcoming switch back to cheaper winter gasoline will also put downward pressure on prices in mid-September.… It won’t be long before we’ll start to see a few cities seeing averages under $3 a gallon. Areas of Tennessee and South Carolina are already getting close.”
