Webster Financial Corp., through its wholly owned insurance subsidiary Webster Insurance, has acquired Musante Reihl Associates, a Cheshire-based insurance agency. Terms were not disclosed.
Webster entered the insurance agency business in 1998 through its acquisition of Damman Insurance Associates, a privately owned insurance agency with offices in Westport and Wallingford. Musante Reihl, which has seven employees, had revenues of $850,000 in 2000.
The agency specializes in group benefits, long-term care and life insurance. Webster Insurance has offices in Cheshire, East Hartford, Norwich, Wallingford, Westport and Waterford. One of Connecticut’s largest agencies, Webster Insurance offers a full line of commercial and personal insurance; risk management services; employee benefit plans; life insurance and annuities. Webster Insurance has a staff of 130 employees and writes in excess of $180 million in premiums.
Topics Mergers & Acquisitions
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