Insurance 2024: RICHARD G. ‘RICKY’ SPIRO

With more than 30 years of experience in insurance and financial services, Spiro has led the Henrico County-based property, casualty and employee benefits insurance brokerage and advisory firm since 2017. A portfolio company of Washington, D.C.-based Carlyle Group, The Hilb Group has more than 2,200 employees in 29 states. The firm celebrated its 15th anniversary in 2024 and has continued to grow, having completed more than 165 acquisitions. 

In June, the Hilb Group acquired German American Insurance, a subsidiary of German American Bancorp, for $40 million. The insurance agency (now known as German American Insurance — a Hilb Group Company) continues operating in southern Indiana and Kentucky. 

In a news release, Spiro noted that this acquisition fits with The Hilb Group’s goal of growing by acquiring “leading insurance brokers in key markets and building on the great reputation.”

Spiro, who has an economics degree from Princeton University, served as executive vice president and chief financial officer of commercial property and casualty insurer Chubb from 2008 to 2016. Before that, Spiro was a managing director in Citigroup Global Markets’ financial institutions investment banking group.