USI buys Iowa-based agency

USI Insurance Services LLC said Tuesday it has acquired Des Moines, Iowa-based Reynolds & Reynolds Inc., a risk management and employee benefits agency.

Terms of the transaction were not disclosed.

Founded in 1976, Reynolds & Reynolds serves businesses and individuals nationally, and has 37 employees, all of whom will be joining USI, a spokesman said in an email.

Valhalla, New York-based USI is the 10th largest broker of U.S. business according to Business Insurance’s latest ranking.

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