Hilb Rogal & Hobbs Company (HRH) announced that it acquired the operating assets of Global Special Risks LLC, effective May 1, 2007. The terms of the transaction were not disclosed.
Global Special Risks (GSR), an excess and surplus lines wholesale broker and managing general agency specializing in the energy and non-marine property fields, was founded in 1979 and has offices in Houston and New Orleans.
Originally created as a London market cover holder concentrating on marine and energy placements, the company has developed unique product offerings, and multiple niche products with the London and North American markets.
With annualized revenue in excess of $8 million in 2006, GSR employs a sales and support staff of 26 professionals from its two locations. The GSR team will continue serving clients from their current locations.
Source: Hilb Rogal & Hobbs Company, www.hrh.com.
Topics Mergers & Acquisitions
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