A New York private investment firm has taken a controlling interest in Virginia-based insurance broker, The Hilb Group.
BHMS Investments has completed a controlling equity investment in The Hilb Group, which was formed in 2009 by former senior executives of Hilb Rogal & Hobbs Co. (HRH), which was bought by broker Willis Group Holdings for $2.1 billion in 2008.
Hilb said its senior management team will continue to hold a significant ownership stake in the business.
Robert J. Hilb, CEO of Hilb, said the capital provided by BHMS will help the firm further execute on its plan to build a “leading middle market brokerage agency in the tradition of HRH.”
Management said it intends to build The Hilb Group through retail agency acquisitions.
Topics Mergers & Acquisitions Virginia
Was this article valuable?
Here are more articles you may enjoy.
Survey Shows Majority of Florida, California Homeowners Seeing Higher Insurance Costs 
JPMorgan Client Who Lost $50 Million Fortune Faces Court Setback 
Investment Funds File New Suits Over Lighthouse Insurance Collapse in 2022 
Progressive Gains as Drivers Shop Around for Auto Insurance—Again 
