According to a joint statement released by Dennis Hilton and Dino Joannides, Cheney Insurance Agency has acquired Bridgewater Financial Group, including several dozen local existing health insurance accounts, and will launch a new benefits division.

Joannides will continue to grow and operate his financial services practice as a financial advisor.

The statement further explains that Rachel Lachance has been hired by Cheney Insurance to work alongside Joannides during the transition, and will handle future sales of group and individual health insurance, life insurance, dental insurance, and Voluntary Supplemental Benefits at the agency.

Lachance has a breadth of experience in administering, implementing and marketing employee benefit programs. Her prior work experience includes 18 years with Anthem and the past 10 years working for a large Portland agency as an employee benefits account manager.

“This is an exciting opportunity for our organization and for our existing clients, as well as those new clients we will welcome with this acquisition,” said Hilton, president of Cheney Insurance. “The marketplace has evolved with the arrival of the Health Insurance Exchange, and we want to be positioned to help our existing and new clients through the process of obtaining health insurance for the first time, or by improving their existing coverage or lowering costs where possible.”

Cheney Insurance represents Aetna, Anthem, Delta Dental, the nonprofit Maine Community Health Options, Washington National and other carriers, allowing them to find the right health insurance coverage fit for each individual, family, or business group plan.

Joannides, who started Bridgewater Financial Group in 1990 and re-located to the same Day-Nash Building that houses Cheney Insurance in 2002, will remain a tenant and will continue to serve his investment clients from that location.

“I was looking for the right opportunity to divest my health insurance accounts so I can focus more on my investment and financial services clients. Turning these valued health insurance accounts over to Rachel Lachance and Cheney Insurance only made good sense since many of these folks already do business with Cheney for their property and liability insurance needs,” Joannides said.

To learn more about your options with regard to the new Health Insurance Exchange, or to discuss other health insurance products, life insurance, dental insurance, or Voluntary Supplemental Benefits, contact Rachel Lachance at 207-563-3435 or email her at rachellachance@cheneycompanies.com.