The Hilb Group acquires Medicare-focused firm
Henrico County insurance company buys Compass Planners
Henrico County-based insurance company The Hilb Group LLC announced Tuesday it has acquired West Greenwich, Rhode Island-based Compass Planners (CP).
Financial terms of the transaction were not disclosed.
Led by Jim Soucy, CP is an insurance company that specializes in Medicare Advantage. Soucy and his three colleagues will join THG’s Cranston, Rhode Island office. Soucy will lead the Medicare practice for all Hilb offices and run THG’s Indianapolis-based Medicare wholesale operation.
“This is an exciting opportunity for us,” Soucy said in a statement. “We are eager to align our goals with those at THG and help build a bigger and better Medicare practice.”
THG was founded in 2009 and has been a portfolio company of Washington, D.C.-based investment management company The Carlyle Group since late 2019. Across its 90 offices in 21 states, the company employs more than 900 people. THG has acquired more than 100 companies.
“Jim and his team will bring growth to an important business segment of THG,” THG CEO Ricky Spiro said in a statement. “We welcome them and the success they are sure to bring to our national benefits practice as it grows and develops.”