Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Univest Corporation Expands Insurance Subsidiary Through Acquisition of Employee Benefits Agency, Javers Group (May 31, 2012)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/01/2012 | 11:32pm CEST
Univest Corporation Expands Insurance Subsidiary Through Acquisition of Employee Benefits Agency, Javers Group

SOUDERTON, Pa, May 31, 2012 -- Univest Corporation of Pennsylvania (listed on NASDAQ: UVSP) and its insurance subsidiary, Univest Insurance, Inc., today announced the acquisition of Javers Group, a full-service employee benefits agency that specializes in comprehensive human resource management, payroll and administrative services to businesses with 50 to 1,000 employees. The acquisition, completed on May 31, 2012, expands Univest's insurance and employee benefits business and further diversifies its solutions to include human resource consulting services and technology.

"Growth of the Univest Insurance business through acquisition is part of our long term strategy to diversify our business, giving consumers and businesses in the region convenient access to a complete range of financial solutions from one company," said William S. Aichele, chairman, president and CEO of Univest Corporation. "Javers' experienced team of professionals strengthens Univest's ability to serve the insurance, benefits, workers' compensation and human resources needs of businesses and individuals."

Javers Group, founded in 1999 by its president Chris Wichser, has consistently been honored for its expertise in human resource management and significant growth throughout the Mid-Atlantic region. In 2005 they became an Alliance Partner of ADP, one of the world's largest providers of human resource, payroll, tax and business administration outsourcing solutions. In 2011, Javers ranked number one in the country for the second consecutive year in ADP's Group Health Alliance program based on business growth. It also was one of four companies honored in Pennsylvania as a Gold Member by United Healthcare for being a top performing benefits provider.

"Javers Group's outsourcing services and technologies allow companies to reduce or eliminate time spent on human resource responsibilities and cut administrative costs," stated Ronald R. Flaherty, president of Univest Insurance, Inc. "While the company primarily serves businesses with more than 50 employees, they have a strong reputation for delivering a unique blend of high quality human resource programs and using innovative systems to design an affordable solution for any size business." Javers is headquartered in Berwyn, Pa., and also operates offices in New York, New Jersey and Maryland. Univest will retain all company employees, relocating staff from the Berwyn office to its current insurance office in West Chester, Pa. Javers Group employees working from offices out of state will continue to operate in their current locations. Javers Group will immediately begin operating under the name Univest Insurance, Inc.

The acquisition of Javers Group is Univest's second acquisition of an employee benefits solutions company in the last five years. In December 2008, Univest acquired Liberty Benefits, Inc., a full service employee benefits brokerage and consulting firm specializing in comprehensive employee benefits packages for businesses with two to 500 employees.

About Univest Insurance, Inc.
Univest Insurance, Inc., headquartered in Lansdale, Pa. is an independent insurance agency, providing property and casualty insurance, employee benefits, and life, health and disability insurance for individuals, businesses and nonprofit clients. Univest Insurance also has offices in West Chester, Chester County and Upper Marlboro Township, MD.

About Univest Corporation
Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania (www.univest.net) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net.

This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
12:31a ICE DISTRICT : Hosts Public Open House for Phase 2 Development North of Rogers Place
12:31a CME GROUP : Announces the Launch of Australian Wheat FOB (Platts) Futures Contract
12:30a COOPERATIVE CONSTRUCTION : English media service
12:30a COOPERATIVE CONSTRUCTION : Ansamed news service
12:30a CANADIAN ZINC : Reports On Annual General Meeting Of Shareholders
12:30a INTEGRATED DEVICE TECHNOLOGY : IDT Appoints Andy Lai as Vice President of Sales, Greater China and South Asia Pacific, and Country Manager for China
12:30a FIDELITY & GUARANTY LIFE MERGER INVESTIGATION ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of Fidelity & Guaranty Life
12:30a BLUEBIRD BIO : Announces Pricing of Public Offering of Common Stock
12:29a WELLS FARGO : U.S. Conference of Mayors, Wells Fargo Announce 2017 CommunityWINS Grants
12:29a AISI AMERICAN IRON AND STEEL INSTITUTE : Steel Joist Institute Presents "Composite Joist - New 2nd Edition Specifications, New Technical Digest No. 13" Webinar
Latest news
Advertisement
Hot News 
-8.85%ALLIED IRISH BANKS : Ireland could sell more AIB shares after oversubscribed IPO
-1.41%CROWN RESORTS : Casino Executive Sentenced -- WSJ
-7.99%Avis Gets Waymo Driverless Car Deal -- WSJ
5.50%Britain's Travis Perkins names ex-ARM man as chairman
-3.33%Auto supplier Schaeffler cuts profit guidance on steel costs, electric shift
Most Read News
06:12p LAPIS Semiconductor’s Breakthrough Soil Environment Sensor
06:09p SOTHEBYS : (English) Sotheby's Confirms its Strong Position in the Market for Swiss Art - Results - Swiss Art / Swiss Made - Zurich
06:14p BAYERISCHE MOTOREN WERKE : The Black Fire Edition of the BMW X5 M and BMW X6 M.
06:01p Solera National Bancorp Announces 2017 Annual Meeting Results
06:04p STHREE : Purchase of own shares
Most recommended articles
06:11p Scrapping South Korea pact would be rash mistake - U.S. trade lobby
05:52pDJADRs End Mostly Down; Tech and Oil Companies Trade Actively
05:50pDJGRAIN HIGHLIGHTS : Top Stories of the Day
05:38p Canada allows Dow, Dupont merger after firms agree to sell assets
05:38pDJMetals Advance Amid Dollar Weakness