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.
New Jersey E-Bike Registration, Insurance Requirements Now in Effect 
India’s Largest Nuclear Power Plant Hit by Data Breach 
Rhine Rises After Rain, but Low Levels Continue to Hinder Shipping 
Iran Renews Attacks on Gulf States After Another Night of US Strikes 
