Hilb Rogal & Hobbs Company, an insurance and risk management intermediary, has acquired substantially all of the assets of Doherty Inc., an employee benefits brokerage operation in Fort Scott, Kansas. Terms of the June 1 transaction were not disclosed.
Doherty Inc. was founded in 1980 by Donald (Don) Doherty and provides a wide range of employee benefits consultation and brokerage services, specializing in life, health and disability insurance programs. Revenues for 2004 were approximately $300,000.
Doherty and his associates will continue to operate from their Fort Scott office through the remainder of 2005, at which time they will merge with HRH’s Pittsburg, Kansas operation under the leadership of its president, David Cavenah. The operation is part of HRH’s Central region, led by Vice President, Central Regional Director William Chaufty.
HRH Chairman and Chief Executive Officer Martin (Mell) Vaughan, III said, “Our acquisition strategy includes partnering with quality organizations and individuals that extend our product and services capabilities in both new and existing markets. The addition of Don and his employee benefits team to our Pittsburg, Kansas office, which is almost exclusively a property and casualty brokerage firm, strengthens our southeast Kansas presence and creates excellent cross-selling potential for both old and new HRH professionals.”
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