Hilb Group founder to lead acquisitions for Virginia Beach firm
Robert “Bob” Hilb will lead mergers and acquisitions for insurance agency Choice Financial Group
Robert “Bob” Hilb will lead mergers and acquisitions at Virginia Beach-based insurance agency Choice Financial Group and continue to serve as a senior adviser and board member, the company announced Wednesday.
“Bob’s experience and knowledge assisted my agency in achieving 700% growth from 2018 to 2021,” Richard Braun, Choice president and founder, said in a statement. “Having him on the team will exponentially increase our value proposition for our current and future partners.”
Bethesda, Maryland-based private equity firm Northlane Capital Partners announced its investment in Choice Financial Group in November 2021, and the portfolio company has completed three acquisitions since then. Hilb joined the company’s executive team in conjunction with the investment.
Since 2018, Hilb has served as CEO of Hilb and Partners Ltd., a consulting firm that serves private equity firms, insurance brokers and insurance tech firms with acquisitions. Braun was an early client of the firm.
“I’m grateful for the opportunities presented to me since 2018 and have made aligning myself with people of the highest integrity and honesty my main priority,” Hilb said in a statement. “Richard and the team at Northlane reflect those values, and I’m honored to provide some small assistance in growing Choice.”
From 2009 to 2017, Hilb was the founder and CEO of Henrico County-based The Hilb Group LLC (THG). Hilb, the original management team and 14 outside investors funded THG’s first transaction. In his tenure, Hilb vetted more than 600 deals and closed 50 transactions. THG now reports it has acquired more than 100 companies.
In 2011, private equity firm BHMS Investments LP bought THG, and in 2015, Boston-based private equity firm Abry Partners acquired the firm. In 2019, Washington, D.C.-based investment management company The Carlyle Group acquired THG.
Choice provides property and casualty insurance and employee benefits service and has 15 offices in five states.