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U.S.I. Holdings Corporation Transitions Leadership David L. Eslick, President and COO is Named Chair
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01/16/2005
U.S.I. Holdings Corporation, the sixth largest insurance brokerage firm in the United States, today announced that its Chairman and Chief Executive Officer since its founding in 1994, Bernard H. Mizel, is retiring from USI and will be succeeded by David L. Eslick, who has been President and Chief Operating Officer since July 1998. Mr. Mizel will become Chairman Emeritus.
In announcing his retirement from USI Mr. Mizel said, "I am very proud of what we've accomplished since the founding of USI. Beginning with the vision of providing a single distribution point for middle market customer's insurance-related financial services needs, we have built the sixth largest brokerage firm in the country in just over seven years. We attribute our success to our focus on our middle market customers and the acquisition of over 100 of the finest brokerage and insurance services firms in the business. With our unwavering focus on the initial vision, USI has established the foundation to take it to the next level.
"I have known David Eslick since 1988, and he has been positioned to succeed me since early in his tenure with the firm. David will be supported by a talented management team that has significant depth and years of industry experience. In transitioning senior leadership responsibility to him, I am confident in his ability to shape and execute the company's operating and business strategy. I will continue as a shareholder in the company and will be available to David and his team."
Mr. Eslick said, "I have valued Barney's leadership and his friendship for many years and share his pride in all that USI has accomplished under his leadership. He has delivered on the company's initial goals and objectives. Barney has also built a great organization full of talented people through his education, training and communication."
"Our leadership team is committed to continue building on what has been achieved and will continue the vision and strategy Barney instilled in the company. We are also grateful that, as Chairman Emeritus, we will be able to call on his expertise as needed."
Warren H. May, a senior executive at Travelers Life and Annuity Company and a member of the USI Board of Directors since August 1998, said, "The Board of Directors joins with company management in thanking Barney for his leadership since the founding of the company. We are confident that thanks to his development of a strong management team and relationship with Dave Eslick this will be a smooth transition and the company will continue building its dominant position in the middle market for insurance-related services."
About U.S.I. Holdings Corporation USI is a diversified insurance services firm focused on providing fully integrated distribution of general and specialty property and casualty insurance and financial services such as employee benefits outsourcing and related consulting. USI was founded in 1994 and according to Business Insurance, is the sixth largest insurance and financial services broker in the U.S. USI is headquartered in San Francisco and operates out of 60 offices in 20 states.
