Briarcliff Manor, N.Y.-based insurance broker USI Holdings Corp. said it has acquired Webster Insurance Inc. from Webster Financial Corporation, the holding company for Webster Bank, N.A. Financial terms were not released.
USI said acquisition of the Meriden, Conn.-based firm is expected to contribute approximately $26 million in revenues to USI on an annual basis.
Both USI and Webster said Webster Financial retains Webster Risk Services, a third-party workers' compensation administrator.
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