USI Insurance Services, LLC acquired BOK Financial Insurance, Inc. from BOK Financial Corporation on December 1, 2023. This transaction will result in a pre-tax gain of $28 million after considering transaction-related expenses. All of BOK Financial Insurance's 45 employees will join USI following the sale. BOK Financial will utilize this gain to realize an equivalent amount of losses in its available for sale securities portfolio and reposition into higher yielding securities. Goldman Sachs served as financial advisor on the transaction, and Frederic Dorwart Lawyers provided legal counsel to BOK Financial Corporation. Arnold & Porter provided legal counsel to USI.

USI Insurance Services, LLC completed the acquisition of BOK Financial Insurance, Inc. from BOK Financial Corporation on December 1, 2023.