USI Announces New Affinity Marketing Partnership With Colburn Insurance Service
USI Insurance Services Corp., San Francisco, CA, has set up a marketing pact with Colburn Insurance Service, Inc., of Media, PA. Specific terms of the transaction were not disclosed and Colburn will maintain its individual identity and staff.
Founded in 1928, Colburn Insurance Service provides life and disability programs, professional liability and medical insurance to associations, chambers of commerce and employer groups. Colburn is also one of the United States' largest professional liability brokers insuring over 30,000 attorneys, realtors, accountants, and optometrists.
With annual revenues exceeding $250 million, USI is the nation's largest insurance brokerage and has been recognized as the fastest growing in the U.S. since its formation in 1994. Colburn will be affiliated with USI's affinity marketing hub, Association Growth Enterprises, Inc. (AGE) based in Springdale, MD. Through its subsidiaries, AGE designs and delivers specialized insurance products and services for professional groups, service businesses, governments, healthcare providers, and commercial organizations.
"The dynamics offered by this partnership are overwhelmingly positive for our employees, clients and agents. We know this is the right opportunity at the right time with the right people," says John E. Colburn, Jr., CEO of Colburn. "This alliance immediately expands our market presence; provides our employees and the new staff we are planning to hire with increased opportunities for career growth; extends our direct sales, distributor and partner channels; strengthens our product offerings; and allows us to better serve our growing customer base.
"We believe our affiliation with USI offers great opportunity for the further development of specialized product lines for current and future clients, and it strengthens our ability to achieve well-managed growth internally as well as through acquisitions," Colburn adds. "Colburn Insurance Service shares USI's commitment to excellence in servicing our client needs. We are also delighted to join with Association Growth Enterprises, Inc. and to play a key role in USI's national expansion by growing our program business for specific industries and professions. This partnership is a wonderful opportunity for the future of our firm. We are delighted to be a part of the USI Team."
"This partnership will expand USI's affinity distribution systems and state-of-the-art products for specific industries and professions," notes John P. May, CEO of USI's Associated Growth Enterprises (AGE). "We will work with other firms within the USI network to take Colburn's specialty products nationally to increase business through a sharing of expertise and resources. This acquisition is a strategic one that will compliment USI's strategy of building a nationwide presence in the affinity marketplace."
Bernard H. Mizel, CEO of USI, says, "We seek our partners thoughtfully and evaluate them carefully," said Mr. Mizel. "Our fundamental criteria include integrity, strong financial management, solid market presence, quality relationships with clients, carriers and employees, and a shared vision of the future."