USI Insurance Services, a P&C insurer and employee benefits outsourcing and consulting firm has acquired most of the assets of The Pinnacle Group. While terms were not disclosed, the acquisition of the employee benefits consulting firm specializing in middle-market business is expected to contribute approximately $3.3 million in annual revenues to USI.
As Pinnacle is based in Virginia Beach, Va., Steven Deal, MidAtlantic Regional CEO, USI, expects the acquisition to strengthen USI’s existing MidAtlantic organization and its expanding employee benefit practice in the state of Virginia. “I am pleased to welcome Anthony Jernigan [CEO and Founder of Pinnacle] and the rest of Pinnacle’s professionals to the USI team,” Deal said.
Jernigan said, “The combination of our two strong employee benefit practices will enable us to offer our clients expanded products and services. USI’s strategic, client-focused practice is an exceptional fit for Pinnacles’ clients and employees. In joining the USI team, Pinnacle will continue its tradition of excellent client service.”
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