The Hilb Group acquires New York brokerage
This makes more than 60 acquisitions in five years for the company.
Henrico County-based insurance company The Hilb Group LLC (THG) acquired Brooklyn, New York City-based independent brokerage BR Vital Brokerage Inc. (BRV) in a transaction that took effect Jan.1, the company announced Tuesday.
Financial terms of the acquisition were not disclosed.
BRV specializes in property and casualty insurance for medical professionals. THG —a portfolio company of Washington, D.C.-based investment management company The Carlyle Group — is a middle-market insurance brokerage and has acquired more than 60 companies since 2015. The Carlyle Group acquired THG in late 2019.
Since July 2019, THG has acquired insurance companies including Pennsylvania-based Greenwald Berk Agency LLC, Massachusetts-based The Incentive Group LLC, New York-based Avanti Associated Ltd., Massachusetts-based Gould & Naimoli Partners LLC, North Carolina-based Employee Benefit Advisors of the Carolinas LLC and Rhode Island-based Wickford Insurance Agency Inc.
BVR Owner Steven Bykovsky will continue to lead BVR associates in the Brooklyn location.
“We are looking forward to the added capabilities we will have as part of THG,” Bykovsky said in a statement. “Access to a national network and pool of resources will help us provide clients with better, more expansive service than ever before.”
Founded in 2009, THG has more than 90 offices in 21 states employing more than 900 people.