UVSP - Univest Financial acquires Paul I. Sheaffer Insurance Agency

Univest Financial (NASDAQ:UVSP) has acquired Pennsylvania-based insurance solutions provider, Paul I. Sheaffer Insurance Agency. Terms of the deal were not disclosed. Founded by Paul I. Sheaffer in 1951, the agency has grown into a full-service firm providing insurance solutions to businesses and individuals in Central Pennsylvania. All of the agency's employees will be retained and begin operating under Univest's insurance subsidiary, Univest Insurance immediately. Sheaffer will serve as Senior Vice President and Central Pennsylvania regional manager. This deal marks Univest's ninth insurance acquisition since the corporation started expanding its financial solutions beyond traditional banking in 1999.

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Univest Financial acquires Paul I. Sheaffer Insurance Agency