Giant insurance and risk management intermediary Hilb Rogal & Hobbs Company (HRH), headquartered in Richmond, Va., announced it has acquired substantially all of the assets of Surplus Ltd., a Texas-based managing general agency (MGA) and excess and surplus lines insurance broker. Terms of the transaction were not disclosed.
Founded in 1975, Surplus Ltd., with 2003 revenue of more than $3 million, provides a broad range of products for independent insurance agents and brokers throughout the United States. The company specializes in underwriting and placing commercial property and casualty, inland marine, professional liability, transportation and personal lines coverages.
President E. Lyle Ashley and his team of professionals will continue serving clients from their offices in Conroe and Austin, Texas, under the direction of Bryan W. Sanders, who oversees HRH’s excess and surplus lines operations.
Topics Mergers & Acquisitions
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