C&S Insurance Agency, Inc. today announced that it will acquire Colonial Insurance of Mansfield, the town’s oldest insurance agency.
The merged entity, which will operate under the umbrella of C&S Insurance, will represent the largest and oldest insurance agency in the Mansfield area.
C&S Insurance (also sometimes known as Cavallo & Signoriello Insurance Agency), has served Mansfield and vicinity since 1959, and is a second-generation, family-owned agency with three locations and 20 employees. With Colonial Insurance coming into the fold, the agency will increase to 25 employees and increase their client base from 7,000 to 13,000.
Colonial Insurance traces its origins to 1882, when it was founded by A.B. Day, the first banker in Mansfield. Present owner Mitchel Siefert first joined the agency in 1978 and became its president in 1986. Colonial Insurance is a 1970 merger of the Herbert E. King Agency and Fred E. Wills Agency. The merged agencies became New England Security Insurance Agency. New England Security Insurance Agency was purchased in 1999 by The Nurses Insurance Agency, which Siefert founded, and in 2002, the agency changed its name to Colonial Insurance.
Siefert will remain with the merged entity, to serve as special advisor/director to C&S Insurance. Colonial Insurance, located at 310 North Main Street, #6, will remain in its current location for the present, and will retain the name “Colonial Insurance” for the next year.
Ben Cavallo, a principal at C&S Insurance, said that plans call for the renovation of the present C&S Insurance offices at 190 Chauncy Street, Mansfield, and eventually both agencies will be housed at this location. Currently, they plan to add several thousand square feet of space to accommodate everyone. Additionally, he anticipates that four or possibly five of the Colonial employees will remain with the agency.
“We are excited to join forces with such an impressive agency as Colonial,” said Cavallo, adding, “Their stellar reputation and presence in Mansfield will make C&S an even stronger presence in the market.” He added, “We look forward to working with Mitchel and his team and continuing to expand our reach in the market.”
Siefert is an active member of the community, having served the town as a member of the Planning Board, past President of Rotary, co-founder and first President of the Tri-Town Chamber of Commerce, and most recently Director, Chairman Finance Committee, and Chairman Planning Committee of Greater Attleboro-Taunton United Way.
Cavallo said that he believes expansion through acquisition and mergers is a solid growth strategy, and he and partner Keith Signoriello look forward to continued expansion. Several years ago, C&S undertook a similar merger/acquisition with the Corbett Agency in Attleboro.
Keith Signoriello, president of C&S Insurance said that he believes expansion through acquisition and mergers has been a tremendous growth strategy,” Adding Colonial Insurance Services
Increases the number of company markets, which translates to better price and coverages for our customers, and also adds key intellectual capital, such as experienced staff, which is invaluable.”