USI Insurance Services has closed a deal for Webb & Greer Insurance Agency Inc., in a deal that underscores continued consolidation in the insurance sector.
Tempe, Ariz.-based Webb & Greer provides commercial property and liability insurance programs. Terms of the deal were not disclosed.
USI, headquartered in Valhalla, N.Y., plans to combine its Phoenix office with Webb & Greer to develop a larger presence in the Phoenix area.
The buyer is an insurance brokerage company that has more than 4,000 employees. The company provides employee benefits, property-casualty, personal lines, retirement, program and specialty business insurance.
Other insurance deals include Endurance Specialty Holdings Ltd.'s $3.2 billion offer to buy Aspen Insurance Holdings Ltd.in hostile takeover, and the Guardian Life Insurance Company of America's deal for Premier Access Insurance Co.
For more on the insurance sector, see "Racking Up Regional Insurers."
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