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Webster Buys Cheshire Insurance Co.
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Business New Haven
1/22/2001
By: BNH
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WATERBURY - Through its wholly owned insurance subsidiary, Webster Insurance, Webster Financial Corp. (NASDAQ: WBST) 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.
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