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By Michael Souza
PBN Staff Writer
MANSFIELD – C&S Insurance Agency Inc. has announced it will acquire Colonial Insurance of Mansfield, the town’s oldest insurance agency.
In a statement issued by the agency on Feb. 1, the merged entity will operate under the umbrella of C&S Insurance and will represent the largest and oldest insurance agency in the Mansfield area.
Formally known as the Cavallo & Signoriello Insurance Agency, the addition of Colonial Insurance will add five employees for a total of 25, and increase their client base from 7,000 to 13,000. C&S Insurance is a second-generation, family-owned agency with three locations and has served the area since 1959.
Colonial Insurance owner Mitchel Siefert will remain with the merged entity, to serve as a special advisor/director. 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 the present C&S Insurance offices at 190 Chauncy St. will be renovated and eventually both agencies will be housed at this location. They plan to add several thousand square feet of space.
“We are excited to join forces with such an impressive agency as Colonial,” Cavallo said. “Their stellar reputation and presence in Mansfield will make C&S an even stronger presence in the market. We look forward to working with [Siefert] and his team and continuing to expand our reach in the market.”
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.
Colonial Insurance traces its origins to 1882, when it was founded by A.B. Day, the first banker in Mansfield. 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.