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USI buys New York brokerage

USI Insurance Services LLC on Monday said it has acquired GFI Insurance Brokerage Inc.

Terms of the transaction were not disclosed.

Based in New York, GFI provides commercial property/casualty, employee benefit and personal risk services to clients in the Northeast region, USI said in a statement.

GFI has two office locations in New York City and Monticello, New York, with a total of 27 employees, according to an email from a USI spokesman.

 “We are excited to welcome the clients and experienced professionals from GFI Insurance to the USI family,” James M. Butler, USI Northeast regional CEO, said in the statement.

USI is the ninth-largest brokerage worldwide, according to Business Insurance’s latest ranking.