United Security Assurance Inc. (“USA”) has been acquired by CMS Financial Services Corp. USA is a privately owned holding company for United Security Assurance Company of Pennsylvania and Colonial American Life. The subsidiary companies offer individual insurance products specializing in long term care, home health care, hospital indemnity, disability income and senior life products. CMS also provides long term care insurance products under the LifeStyle Solutions name. The combination allows CMS to extend its geographic reach and expand its product offerings.

USA had approximately 90 shareholders and management owned approximately 80% of the stock. Curtis provided an initial fairness opinion at signing of the transaction and then provided a “bring down” opinion in connection with USA’s mailing to shareholders.