The Hilb Group LLC (THG), a Richmond, Va.-headquartered middle market insurance agency, has acquired Manasquan, N.J.-based American Truck Insurance Exchange LLC (ATIE). The transaction became effective March 1, 2017.
ATIE is a property and casualty insurance agency that specializes in the trucking industry. All of ATIE’s employees along with the managing partners, Rich Minerva and Ryan Proud, are joining THG under its existing name and will continue to operate out of its office in Manasquan, N.J.
“With over 40 years in the insurance industry, Rich, Ryan and their team possess considerable experience in trucking insurance,” said Robert J. Hilb, founder and CEO of THG, in a company press release. “Not only is ATIE’s insight beneficial to our team, but the addition of their agency will expand our already substantial transportation operations in New Jersey.”
Combining forces with THG will also alow ATIE to expand the services it provides to clients and establish new opportunities for its associates, Minerva said in the press release.
Source: The Hilb Group
Topics Mergers & Acquisitions Auto New Jersey
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