Hilb, Rogal & Hamilton Co. has acquired the majority of the operating assets of LFC Insurance Agents & Brokers Inc. of Beverly Hills, Calif.
LFC has annual revenues more than $1 million and provides property & casualty insurance and risk-management services to clients, including many nonprofit organizations.
Last month, Hilb, Rogal credited a 64.7 percent increase in fourth-quarter net income to acquisitions and divestitures, new business production and firming of pricing. Net income rose to $7 million, or 23 cents a share, from $4.3 million, or 15 cents a share, in the fourth quarter of 2000, the company said. Total revenue increased 29.6 percent to $87 million, up from $67.1 million a year earlier, led by substantial acquisition activity over the past year and organic growth, according to the company.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
AIG General Insurance Chairman McElroy to Retire May 1 
FBI Says Chinese Hackers Preparing to Attack US Infrastructure 
Wildfires Are Upending Some of the Safest Bets on Wall Street 
Trump’s Bond Insurer Tells Judge Shortfall Is ‘Inconceivable’ 
