PSA Insurance & Financial Services Makes Purchase

PSA Insurance & Financial Services announced the acquisition of the Baltimore office of Alliance Benefit Group Mid-Atlantic (ABG), a provider of employee retirement programs.

The acquisition adds depth, expertise, and new services to PSA while building upon the company’s vision to serve businesses of all sizes in property and casualty insurance, employee benefits, and retirement plan services.

PSA will gain more than 20 employees who are experts in retirement plan design and administration, along with a book of business that includes large companies with up to $50 million in retirement plan assets.

“This is an important and exciting day for PSA as we build on our commitment to growth and welcome the exceptional team from the Baltimore office of ABG Mid-Atlantic,” said PSA Senior Vice President of New Business Development, Ed Kushlis. “To date, our retirement planning services have focused on the needs of the small-to-medium business market. ABG brings considerable strength and experience in servicing larger companies. By combining our resources, our clients will benefit from access to a stronger team and PSA will be well-positioned to pursue sizable retirement plan opportunities in Maryland and beyond.”

The ABG team joining PSA is led by President Charles Offutt, a retirement plan expert with more than 30 years of experience. Offutt will become the new retirement plan leader for PSA, bringing his experience and network of contacts to the firm. Total employment at PSA will increase to more than 180 as a result of the acquisition.