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USI Insurance acquires TD’s US insurance subsidiary

Headquartered in Briarcliff Manor, New York, USI Insurance Services (USI) has completed the acquisition of TD's US insurance subsidiary for an undisclosed sum.

TD Insurance, a wholly-owned US subsidiary of TD Bank, is a bank-owned insurance agency and brokerage firm in the US, providing a range of insurance and employee benefits products and services.

It is expected that the acquisition will contribute $58.2m in revenues to USI on an annual basis, while the sale does not affect the Canadian operations of TD Insurance.

USI chairman, president and CEO Mike Sicard said, "The TDI Inc. and USI teams have a fundamental shared philosophy based on understanding our clients’ needs, delivering superior local service, and providing unique and innovative solutions that cover the full breadth and depth of our clients’ exposures and deliver to their bottom line."

USI is a distributor of property and casualty insurance, employee benefits and specialty products throughout the US.