In an effort to expand its Midwest presence, Richmond, Va.-based Hilb Rogal & Hobbs Co. (HRH) has signed a definitive agreement under which HRH will acquire the operating assets of T.J. Adams Group , a Chicago-based insurance broker. The transaction is expected to be completed by Sept. 1, 2004.
With revenues in excess of $21 million in 2003, T.J. Adams, an Assurex Partner, is the seventh largest independent insurance broker in Chicago and has been providing an array of insurance and risk management products and services to a broad range of clients for almost 40 years. HRH said it is the seventh largest insurance brokerage in the world.
T.J. Adams’ staff of approximately 150 skilled professionals will continue operating from their existing two locations in Lombard and Palatine, Ill., under the leadership of CEO Kent A. Nelson, Chief Operating Officer Gregory A. Field and Midwest Regional Director John P. McGrath.
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