October 12, 2008
PSA Insurance buys Alliance Benefit unit
PSA Insurance & Financial Services, based in Hunt Valley, said yesterday it acquired the Baltimore office of Alliance Benefit Group Mid-Atlantic (ABG), a provider of employee retirement programs. PSA, which offers businesses property and casualty insurance, employee benefits, and retirement plan services, will incorporate ABG's 20 Baltimore employees and its business of offering retirement planning for large companies of up to $50 million in retirement plan assets. PSA's latest move to increase its business, which brings its staff to 180 employees, will allow PSA to serve companies with traditional pension funds. Last year, PSA acquired RSM McGladrey Insurance Services, a leader in employee benefits, and formed Construction Risk Management, which serves the construction industry.
Lorraine Mirabella
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