NEW: USI acquires Mastor & Servant

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Thursday, December 23, 2010

GoLocalProv Business Staff

USI Holdings Corporation (“USI”), today announced  acquisition of Mastors & Servant Risk Services in East Greenwich, RI.  The firm specializes in commercial property & casualty, bonds, and employee benefits insurance for middle-market businesses and is expected to contribute approximately $5.6 million in revenues to USI on an annual basis. Terms of the transaction were not disclosed.

“USI shares our commitment to providing professional service that exceeds client expectations. We look forward to working with USI to bring our customers enhanced product and service capabilities.”

 “Mastors & Servant is a great complement to our existing office in Warwick, RI. By combining the two offices under Joe Servant and Jim Mastors’ leadership, we will become one of the largest middle-market insurance brokerage firms in Rhode Island," said Michael J. Sicard, USI's chairman, president and CEO.

Joseph A. Servant, Mastors & Servant Chairman, said: “By joining the USI team, Mastors & Servant continues its tradition of customer service excellence.” James L. Mastors, Mastors & Servant President, said: “USI shares our commitment to providing professional service that exceeds client expectations. We look forward to working with USI to bring our customers enhanced product and service capabilities.” 

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