The Hilb Group acquires Medicare-focused firm, six Va. companies

Henrico-County based insurance company The Hilb Group LLC finalized its acquisition of Health Quote of Rhode Island Inc. on July 1, it announced Tuesday.

Financial terms of the transaction were not disclosed.

Health Quote specializes in Medicare offerings, and its clientele will join THG’s Medicare practice.

THG CEO Ricky Spiro said in a statement, “Our strategic approach to growth is focused on continuing to build on the services and expertise that we bring to our customers. We are pleased to expand our Medicare business and offerings, as we see tremendous opportunity here for the future, and we know that we can have a positive impact in the lives of those we serve.”

The company has been focused on acquisitions in recent years and announced four in April.

The group also recently announced several acquisitions in Virginia that became effective on July 1. They include:

• Mechanicsville-based Easley Hedrick Insurance & Financial
• Salem-based Ryan Harris Insurance and Financial Services Inc.
• Roanoke-based Keith Ghaphery and Associates Inc.
• Manassas-based Harvey Insurance Agency
• Virginia Beach-based Mayo Insurance Agency Inc. and Williamsburg Insurance Agency LLC
• Richmond-based Ronnie Shriner Insurance Agency

All agencies’ principals and teams will join THG’s Mid-Atlantic regional operations.

THG was founded in 2009 and has been a portfolio company of Washington, D.C.-based investment management company The Carlyle Group since 2019. Across its more than 100 offices in 21 states, the company employs more than 900 people. THG has acquired more than 100 companies.