How Africa News
Insurance firm established in Henrico County The Hilb Group LLC announced the acquisition of E/G of Florida on Friday.
The acquisition went into effect on January 1. The transaction’s financial specifics were not disclosed.
“E/G of Florida represents a terrific addition to our company, aligned with our growth strategy by adding greater expertise in vital markets, as well as enhancing opportunities for the agencies who join us,” Hilb Group CEO Ricky Spiro said in a statement.
E/G of Florida is headquartered in Fort Lauderdale and has offices in Delray Beach and Port St. Lucie. The 25-year-old organization offers both personal and commercial insurance. Patrick Mulligan, Principal of E/G of Florida, and his team will join Hilb Group’s Southeast regional operations, adding more than 20 workers.
“This move represents a tremendous next step for us — we are excited to join the Hilb Group and to have access to the broader support and resources that this partnership delivers,” Mulligan said in a statement.
The Hilb Group has made over 150 acquisitions and operates over 100 locations throughout 27 states.
The insurer was created in 2009 and is a portfolio company of The Carlyle Group, a Washington, D.C.-based investment management firm from which Virginia Gov. Glenn Youngkin retired in 2020 after serving as co-CEO. The Hilb Group employs roughly 2,150 people.
