Hilb Rogal & Hobbs Company announced the completion of the previously announced acquisition of the stock of Smith, Bell & Thompson Inc., a Vermont-based managing general underwriter (MGU) with 2003 revenue of more than $13.5 million.
With national specialty programs that include metal and plastics; social services; medical equipment and home healthcare; medical facilities; and specialty workers’ compensation, Smith, Bell & Thompson has helped a diverse client base manage risks for more than 75 years. Roger D. Teese, Smith, Bell & Thompson president, and his team of 78 insurance professionals will continue to serve clients from their office in Burlington, Vt., under the direction of Martin L. Vaughan III, HRH chairman and chief executive officer.
With completion of the Smith, Bell & Thompson transaction, HRH has acquired more than $80 million in annualized revenues in nine transactions in 2004, exceeding its goal for the year of acquiring $30 million to $60 million in annualized revenues.
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