The Hilb Group acquires Rhode Island insurer

Henrico County-based insurance broker has acquired more than 60 companies since 2015.

Published December 24, 2019 by Sydney Lake

Henrico County-based insurance broker The Hilb Group LLC (THG) has acquired Rhode Island-based Wickford Insurance Agency Inc. (WIA) in a deal that closed on Dec. 1, THG announced Tuesday.

Financial details of the deal were not disclosed.

WIA is a property and casualty insurance agency and its associates will join THG’s Rhode Island operations under the management of Chris Schneider and Derek Schneider.

“WIA has provided excellent customer service since 1984,” Joe Padula, New England Property & Casualty Practice Leader said in a statement. “By joining THG, WIA’s customers will continue to receive the same degree of service that they have come to expect, plus the additional capabilities and expertise available through THG.”

THG has completed more than 60 acquisitions since 2015. Since July, 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 and North Carolina-based Employee Benefit Advisors of the Carolinas LLC.

The Carlyle Group, a Washington, D.C.,-based global investment firm, announced in late October that it will acquire a majority interest in THG by the end of the year.

Founded in 2009, THG now has more than 90 offices in 21 states employing more than 900 people. THG has been a portfolio company of Abry Partners, a Boston-based private equity firm, since 2015.