BISYS Acquires An MGA, Uhlemeyer Services
NU Online News Service, Jan. 13, 10:55 a.m. EST?BISYS, an insurance distributor and business process firm, said yesterday it had acquired Uhlemeyer Service, Inc., a managing general agency in St. Louis.[@@]
No terms were disclosed.
New York-based BISYS said that purchasing Uhlemeyer, which serves the commercial property and casualty insurance marketplace and distributes and services workers' compensation programs, is part of acquisition moves in the commercial p-c marketplace that the company began last year.
In 2003, BISYS acquired Tri-City Brokerage and later USA Insurance Group. BYSYS said the latest buy will increase its product offerings and geographic reach.
Last year Uhlemeyer generated more than $50 million in policy premiums, BISYS said.
During the fiscal year ended June 30, 2003, BISYS said its distribution platform supported the sale of commercial p-c insurance representing approximately $1 billion in premiums.
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