Emily Bader//June 9, 2015//
USI Insurance Services announced Tuesday that it has acquired the insurance and surety business of Chester-based KORE Group Inc., which does business as Construction Agency Processionals.CAP and its employees will join USI in its West Orange office.
“CAP is known for providing top-notch solutions to public and private contractors so they may achieve healthy, sustainable and profitable growth. By joining USI, our clients will enjoy unmatched technical resources along with benefiting from expanded solutions supported by a group of high touch, high service professionals,” Michael S. Culnen, CEO and president of CAP, said in a prepared statement.
The acquisition will allow USI to strengthen its construction risk market share in the New York metro area.
“CAP’s talented group of professionals has an impressive track record for growing construction companies, making them a perfect match with our game-changing platform known as the USI ONE Advantage. This approach integrates business analytics with a networked team of national and local experts using a consultative planning process to generate targeted risk management solutions. I am excited to have CAP join us and welcome them to USI,” James M. Butler, regional CEO for the USI Northeast region, said in a prepared statement.
Financial terms of the deal were not disclosed.
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