The Hilb Group, a middle market insurance agency based in Richmond, Virginia, announced Tuesday that it has acquired Dowling & O’Neil, an independent agency in Hyannis, Massachusetts. Terms of the transaction were not disclosed.
Founded in 1841, Dowling & O’Neil provides general property/casualty insurance services with specialty niches in high net worth personal lines and health care facilities.
Dowling & O’Neil co-owners Rob Miller and Mark McCartin will continue to lead 31 employees and operate in the Hyannis location under their current name.
The Dowling & O’Neil acquisition is The Hilb Group’s first transaction in 2016, adding a third agency in its growing New England footprint. In June 2015, The Hilb Group acquired Cornerstone Group, a benefits advisory firm in Warwick, Rhode Island, and Gencorp Insurance, a property/casualty and employee benefits broker in East Greenwich, Rhode Island.
Established in 2009, The Hilb Group seeks to grow through targeted acquisitions in the middle market insurance brokerage space. The firm currently has 39 offices in Florida, Kentucky, Maryland, Massachusetts, New York, North Carolina, Tennessee, Texas, Virginia and West Virginia. The Hilb Group is a portfolio company of Boston-based private equity firm, ABRY Partners.