Insurance broker Hilb Rogal & Hobbs Co., out of Richmond, Va., has agreed to acquire Loan Protector General Agency, Inc. and Loan Protector Tracking Services, Inc., a provider of customized insurance tracking programs and lender-placed insurance products to the mortgage industry.
Terms of the transaction, which is expected to close on January 1, 2007, were not disclosed.
Founded in 1991, the Cleveland, Ohio-based company expects revenues of approximately $8 million in 2006. Loan Protector Tracking Services caters primarily to a client base of banks, savings and loan organizations, credit unions and mortgage companies.
Source: Hilb Rogal & Hobbs Co.
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