USI Insurance Services has announced that it has acquired Cananah Associates, Inc., an independent brokerage headquartered in Honolulu. Terms of the transaction were not disclosed.
Founded in 1976, Cavanah Associates focused on commercial and personal risk insurance programs, USI said in a news release.
“We are thrilled to be joining forces with an established industry leader such as USI, known for their best-in-class resources and industry expertise,” said Jim Cavanah, president of Cavana Associates. “Our valued clients throughout Hawaii will continue to benefit from the local, personalized service they have come to expect from Cavanah Associates, and we look forward to introducing them to USI’s expanded suite of innovative solutions and expertise with a continued focus on helping grow and protect their businesses and personal interests.”
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“This exciting partnership establishes a new Hawaii-based presence for USI, and we are excited to welcome Jim Cavanah, Chris Laniauskas and the entire team of professionals from Cavanah Associates,” said Chris Prentice, regional CEO for USI. “We look forward to advancing Cavanah Associates’ longstanding tradition of delivering innovative risk management solutions and expertise to clients leveraging the USI ONE Advantage, a proprietary platform integrating analytics, networked resources and strategic planning to deliver customized solutions with economic impact.”
The acquisition comes shortly after USI received an equity investment of more than $1 billion from its existing shareholder, KKR. USI was also recently named one of Insurance Business America’s Top Insurance Employers for 2023.
USI Insurance Services has been recognized as an insurance company with the best diversity, equity, and inclusion program in the US. Read the full winners in 5-Star Diversity, Equity, and Inclusion 2024 special report here.
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