The Hilb Group LLC (THG), a property and casualty insurance and employee benefits broker, has acquired CNC Insurance Associates Inc. (CNC). The transaction became effective October 1, 2017.
CNC is THG’s 38th acquisition since it was founded in 2009.
Founded in 1978, CNC provides property and casualty insurance solutions for businesses in Delaware, Maryland, Pennsylvania, New Jersey and Virginia. With its office location in Dover, Del., CNC is the first acquisition in the state for THG.
Kevin Nemith, CNC’s managing director, will continue to lead the agency’s associates out of its existing location. Joining THG will allow CNC to gain additional product and service offerings that will benefit clients, Nemith stated in a press release issued by THG.
The addition of CNC also continues THG’s national expansion and is expected to further strengthen the company’s presence in the Mid-Atlantic region, added THG CEO Ricky Spiro in the release.
The Hilb Group is a middle market insurance agency headquartered in Richmond, Va. It is a portfolio company of Boston-based private equity firm, Abry Partners. In the future, The Hilb Group seeks to continue to grow through targeted acquisitions in the middle market insurance brokerage space.
Source: The Hilb Group
Topics Mergers & Acquisitions
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