The Hilb Group LLC, an insurance broker based in Glen Allen, has acquired Richmond-based Venture Specialty Insurance.
The deal is the first completed since New York-based BHMS Investments LP bought a controlling interest in The Hilb Group e
arlier this summer.
Venture Specialty Insurance offers insurance coverage for industries such as passenger transportation, hospitality, restaurants and waste operations in 25 states.
Jason Angus, the founder and president of Venture Specialty Insurance, will continue to head the company while assuming the role of role of chief marketing officer for The Hilb Group.
The Hilb Group was founded in 2009 by Robert H. Hilb, the former founder, CEO and chairman of Richmond-based broker Hilb Rogal & Hobbs, and Robert J. Hilb, a former corporate vice president of the company.
HRH was bought by Willis Group for $2 billion in 2008.
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