Hilb Group acquires Fla. insurance agency

Henrico County-based insurance agency The Hilb Group LLC has acquired E/G of Florida, the company announced Friday.

The acquisition took effect Jan. 1. Financial terms of the transaction 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 based in Fort Lauderdale and has locations in Delray Beach and Port St. Lucie, Florida. The 25-year-old company provides personal and commercial coverage. E/G of Florida Principal Patrick Mulligan and his team will join Hilb Group’s Southeast regional operations, adding more than 20 employees.

“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 completed more than 150 acquisitions and has more than 100 offices in 27 states.

The insurer was founded in 2009 and is a portfolio company of Washington, D.C.-based investment management company The Carlyle Group, from which Virginia Gov. Glenn Youngkin retired in 2020 after serving as co-CEO. The Hilb Group has approximately 2,150 associates.