USI Acquires Conn.’s Webster Bank Insurance Brokerage

February 4, 2008

USI Holdings Corp. has acquired Webster Insurance, Inc., from Webster Financial Corp., the holding company for Webster Bank, N.A. The parties also signed marketing agreement to provide expanded products and services to their respective clients.

Webster Insurance, based in Meriden, Connecticut, is expected to contribute approximately $26 million in revenues to USI on an annual basis.

Webster Financial Corp. will retain Webster Risk Services, a third-party workers’ compensation administrator.

Webster Insurance is one of the largest middle-market insurance brokerage firms in New England with offices in Connecticut, Massachusetts and Rhode Island. Webster Insurance specializes in commercial property/casualty and employee benefits insurance for middle-market companies and personal lines insurance for individuals.

USI is headquartered in Briarcliff Manor, N.Y., and operates out of 66 offices in 18 states. USI is a portfolio company of Goldman Sachs Capital Partners, a private equity affiliate of Goldman Sachs & Co.

Source: USI

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