Valhalla’s USI Insurance Services acquires commercial insurance business from Wells Fargo

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Valhalla-based USI Insurance Service announced last week that it would acquire Wells Fargo Insurance Services USA. Wells Fargo’s commercial insurance services caters to specialized industries and provides property insurance among other products. The transaction is expected to close later this year, according to Westchester Business Journal.  The brokerage’s CEO and chair Michael Sicard called the deal a “transformational transaction.” USI acquired 40 brokerages from Wells Fargo in 2014, and currently has 4,400 employees in about 140 offices. [WBJ]