USI Insurance Services announced Jan. 25 its acquisition of CBDI, Inc., an employee benefits wholesale brokerage company based in New Jersey. CBDI will merge with USII’s employee benefits wholesale brokerage division, Emerson Reid, LLC.
Terms of the transaction were not disclosed.
While merged with Emerson Reid, the CBDI team will remain in operation at their current location.
“CBDI’s business model perfectly complements ours, and the quality and knowledge of their staff will help us to further our goal of growing and protecting our clients’ business. I am excited to welcome Jack and his team to Emerson Reid and look forward to working with them to deliver unparalleled service and support to our brokers,” said Emerson Reid president George A. Rosiak.
Emerson Reid offers its products and services to clients in the New Jersey and Pennsylvania areas.
CBDI, Inc. president Jack J. Piccininni looks forward to the partnership. “We are excited to join Emerson Reid and combine our resources to best position our broker partners for success as the employee benefits market continues to grow in complexity and increased competition from non-traditional benefit companies. Our brokers will now have access to Emerson Reid’s specialized departments, sophisticated marketing technology, and in-depth ACA and compliance resources,” he said.
CBDI was formed in 1992 in Mount Laurel, New Jersey, providing total benefits solutions, support for brokers, benefit administration and consumer options, which include individual and Medicare coverage.
