WATERBURY, Conn. Webster Financial Corp., through its subsidiary Webster Insurance, has bought Wolff-Zackin & Associates Inc., a multiline insurer, and Benefit Plans Design and Administration Inc., an insurance agency that sells retirement plans.
Terms were not disclosed.
Wolff-Zackin, of Vernon, Conn., sells personal and corporate life insurance, personal and commercial property/casualty insurance, and deferred compensation plans.
Benefit Plans Design and Administration, also in Vernon, supplies businesses with pension, profit-sharing, individual retirement account, and 401(k) plans.
Webster Insurance also sells group life, disability income, medical, and dental plans for businesses.
These are the fifth and sixth insurance agency acquisitions Webster Financial has made since 1998, when it entered the insurance business. The most recent previous agency deal by the $11 billion-asset company was in January.
Webster Insurance employs 180 and writes more than $220 million of premiums a year.