USI Insurance Services ("USI") announced the closing of the acquisition of Oscar & Associates ("Oscar & Associates") headquartered in West Caldwell, N.J. Terms of the transaction were not disclosed.

Through strategic alliances with group medical and ancillary providers, Oscar & Associates is a wholesale broker that designs, communicates and implements benefit solutions to enhance employee satisfaction while maintaining employer fiscal responsibility. Oscar & Associates will be combined in Emerson Reid LLC ("ERC"), USI's benefits wholesale operation that is headquartered in New York City. This acquisition reinforces ERC's leadership position as the largest employee benefit wholesaler in the Northeast tri-state area.

Arthur W. Hall, chief executive officer of Emerson Reid LLC, said: "With this acquisition, we have attained seasoned insurance veterans who share in our goal of protecting and growing the broker's business. Their reputation for staying ahead of the curve on market changes and delivering superior resources is impressive, and is a perfect complement to our strategy of delivering unparalleled service and support to our brokers. I am pleased to welcome Oscar & Associates to ERC."

"Our philosophy is to create a strong infrastructure of broker support service to allow our agents to maximize their time, efficiency and earning potential," said Richard E. Oscar, president of Oscar & Associates. "This acquisition enables us to leverage our staff's talents with ERC's tremendous presence in general agency contracts and to further cultivate our benefits solutions in the marketplace. We are excited to be joining USI, and I look forward to extending ERC's footprint with Arthur and his team."

About Oscar & Associates

Headquartered in West Caldwell, N.J., the mission of Oscar & Associates is to provide the highest level of market support, consultation, and broker service to producers in the employee benefits brokerage market. The General Agency was founded in 1988 on the belief that success can only be measured by the success of its producers.

About Emerson Reid LLC

Emerson, Reid LLC, founded in 1974, is the only employee benefits wholesaler with true general agency contracts in downstate N.Y., N.J., Pa., Southern Conn. and Del. The Company has seven office locations and manages over $3 billion in healthcare premium, over 10,000 group statutory disability policies and 5,000+ ancillary line cases. Visit www.emersonreid.com.

About USI Insurance Services

Founded in 1994, USI is the 10th largest insurance broker in the United States and the 14th largest in the world. USI is headquartered in Valhalla, N.Y. and operates out of approximately 100 offices across the United States. Additional information about USI may be found at www.usi.biz.

USI Insurance Services
Edward J. Bowler, 914-749-8504
ed.bowler@usi.biz
or
Cecile M. Locurto, 914-747-6331
cecile.locurto@usi.biz