Webster Financial to Acquire Conn. P/C Agency

Webster Financial Corporation, a Waterbury, Conn.-based holding company for banking and insurance subsidiaries, announced the acquisition of The Mathog & Moniello Companies, an insurance agency in East Haven specializing in providing risk management products and services to self-insured business clients.

Prior to acquisition, Mathog & Moniello was one of the largest independent retail brokers in Connecticut with approximately 90 employees and additional offices in West Hartford, CT and Harrison, New York. The agency specializes in alternatives to traditional insurance through its risk management services, which includes claims administration and loss control. The firm also offers self-funded, self-insurance services and has built extensive workers’ compensation, self-insured programs for hospitals, municipalities, convalescent homes and auto dealers. It is one of the largest workers’ compensation producers in New England.

Terms of the acquisition were not disclosed.