Chase/USI Employee Benefits and Commercial Insurance Agency Appoints Senior Executives

Strategic Insights -

Chase/USI, a strategic alliance between The Chase Manhattan Corp. and USI Holdings Corp., has named Darsweil L. (DL) Rogers as its chief executive officer and Richard Hatkewicz as president and chief operating officer. The insurance agency focuses on providing commercial property and casualty insurance products and employee benefits to Chase's middle market customers. With a presence in over 50% of the New York region's middle market companies, Chase has maintained its lead position since 1986, serving businesses with annual sales ranging from $3 million to $500 million.

Key Takeaways:

  • Darsweil L. (DL) Rogers has been appointed as the chief executive officer, with a background in structuring and underwriting loans for buyout firms and investment banks.
  • Richard Hatkewicz has been named president and chief operating officer, with over 25 years of experience in the life insurance and benefits industries.
  • The Chase/USI Employee Benefits and Commercial Insurance Agency will focus on providing commercial property and casualty insurance products and employee benefits to Chase's middle market customers.
  • Chase has a strong presence in the New York region's middle market, with over 50% market share.
  • The insurance agency will offer a range of services, including life insurance, auto, homeowners, annuities, disability, long-term care, Medicare supplement, and mortgage protection.
  • USI Holdings Corp. is a diversified insurance services firm offering general and specialty property and casualty insurance, insurance-related financial services, and insurance wholesale operations.
  • Chase Insurance Agency Inc., a Chase affiliate, was formed in 1993 and is the largest bank-affiliated insurance unit in the nation.
  • USI has earned the distinction of being the nation's fastest-growing insurance distribution services firm through strategic acquisitions and internal growth since its founding in 1993.

Statistics:

  • Chase has a market share of over 50% in the New York region's middle market companies.
  • Chase serves businesses with annual sales ranging from $3 million to $500 million.
  • USI Holdings Corp. is the seventh largest insurance and benefits broker in the United States.
  • The Chase/USI Employee Benefits and Commercial Insurance Agency will provide a range of services to middle market customers.
  • Chase Insurance Agency Inc. was formed in 1993.
  • USI has undergone rapid growth since its founding in 1993, becoming the nation's fastest-growing insurance distribution services firm.

Sources:

  • Chase/USI Employee Benefits and Commercial Insurance Agency press release, July 15, 1998.
  • The Chase Manhattan Corp. website.
  • USI Holdings Corp. website.
  • "USI Holdings Corp. to Merge with Progressive Plan Administrators" article, dated 1993.
  • "Chase Insurance Agency Inc. Formed" article, dated 1993.