A founder of Hilb Rogal & Hobbs Co. has launched a new middle-market insurance brokerage and aims to be a dominant East Coast player through an aggressive growth-by-acquisition strategy, its president and CEO said Tuesday.
Robert H. Hilb, who stepped down as chairman of the Glen Allen, Va.-based insurance firm more than a decade ago, has formed The Hilb Group with his son, Robert J. Hilb.
The Hilb Group seeks to take advantage of favorable market conditions and grow through targeted acquisition and strategic alliances in the middle-market insurance brokerage space, according to a statement. The company, also based in Glen Allen, has offices in Connecticut, New York and North Carolina.
Last month, The Hilb Group acquired the business of Joseph Caruso, who operates in Charlotte, N.C., and New York, N.Y. Caruso provides insurance brokerage and advisory services focusing on management liability and employee benefits for corporate clients across the country. Joseph Caruso, a former managing director of Willis New York, will lead The Hilb Group’s financial services practice.
Earlier this month, The Hilb Group merged with J.J. Jerome Associates/EAI of Bay Shore, N.Y. The firm, under the leadership of Jerry Jerome, provides specialized insurance programs to the physician and dental professions throughout New York. J. J. Jerome Associates/EAI has been in business for more than 50 years. James Jerome will head JJJ/EAI for The Hilb Group, along with the founder of JJJ/ EAI, Jerry Jerome.
Robert J. Hilb, president and CEO of The Hilb Group, said in a statement the combination of firms will “provide tremendous potential for organic growth and will serve as springboards for future strategic agency alliances and acquisitions.” added Hilb.
The Hilb Group was founded in 2009 by Robert H. Hilb, the former founder, CEO and Chairman of Hilb Rogal & Hobbs, and Robert J. Hilb, a former corporate vice president of HRH.