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The Hilb Group acquires New York-based insurance company
Henrico County-based insurance company The Hilb Group LLC (THG) announced Tuesday it has acquired Auburn, New York-based insurance company Moran, Moran, & Dauphin Inc. (MMDI), effective Nov. 1. Financial details of the acquisition were not disclosed. Founded in 2006, MMDI provides property and casualty (P&C) insurance products. As part of the transaction, the MMDI leadership […]
Mutual Assurance Society of Va. names VP innovation, marketing
Richmond-based Mutual Assurance Society of Virginia announced Tuesday that it has named Mark Crutcher as its inaugural vice president of innovation and marketing. Crutcher most recently was a senior product manager with Safe Auto and had previously served as Lititz Mutual’s vice president of marketing, underwriting and product development. “Mutual Assurance’s goal is to embrace [&h[...]
Long-delayed Genworth acquisition postponed again
Henrico-based Genworth Financial Inc. and China-based Oceanwide Holdings Group Co. Ltd. announced on Monday that Oceanside’s long-delayed $2.7 billion acquisition of Genworth has been reapproved by China’s National Development and Reform Commission, and the acquisition has been postponed until the end of December. With the Chinese government’s reapproval, Oceanwide will now move [...]
Va. initial jobless claims jumped nearly 25% last week
The number of initial jobless claims in Virginia rose by 24.75% last week, the Virginia Employment Commission reported Thursday. For the week ending Oct. 17, 11,365 Virginians filed initial claims for unemployment, an increase of 2,255 from the previous week, according to the VEC. And the number of initial claims filed during the week ending […]
The Hilb Group acquires Md.-based insurance company
Henrico County-based insurance company The Hilb Group LLC (THG) announced Tuesday it acquired Annapolis, Maryland-based Insurance Solutions (ISI), effective Oct. 1. Transaction details were not disclosed. This marks THG’s 12th acquisition within the past year. Founded in 1989, ISI is a full-service employee benefits agency specializing in health, dental, life and disability benefits. As pa[...]
Genworth’s $2.7B acquisition by Chinese company faces new hurdle
Henrico County-based Genworth Financial Inc. announced Thursday that China-based Oceanwide Holdings Group Co. Ltd. has reached an agreement with Hony Capital on the commercial terms and conditions of its $1.8 billion offshore financing plan to complete its acquisition of Genworth. However, Oceanwide has not reached a final agreement on all terms and conditions due to […]
The Hilb Group acquires Ct.-based insurance company
Henrico County-based insurance company The Hilb Group LLC (THG) announced Tuesday it has acquired Shelton, Connecticut-based Ganim Group Inc. (Ganim Benefits) from investment advisory company Ganim Financial Inc. Transaction details were not disclosed. This marks THG’s 11th acquisition within the past year. Ganim Benefits provides employee benefits insurance, including group medical and dent[...]
The Hilb Group makes 10th acquisition within past year
In its second acquisition announcement of the week, Henrico County-based insurance company The Hilb Group LLC (THG) on Wednesday announced it has acquired Michigan-based CIA Financial Group Inc. The transaction was effective July 1. A transaction amount was not disclosed. Since 2015, THG has acquired more than 60 companies. The purchase of CIA Financial is […]
The Hilb Group acquires Mass.-based insurance agency
Henrico County-based insurance company The Hilb Group LLC (THG) announced Tuesday it has acquired Chatham, Massachusetts-based Eldredge & Lumpkin Insurance Agency Inc. (E&L). The transaction was effective July 1. Financial terms of the acquisition were not disclosed. E&L is a full-service agency that provides property and casualty insurance. The E&L team, including its owners Alan [...]
Genworth Financial acquisition delayed again
The $2.7 billion acquisition of Henrico County-based Genworth Financial Inc. by China-based Oceanwide Holdings Group Co. Ltd. has been postponed — yet again — the companies announced Tuesday. The Virginia State Corporation Commission’s Bureau of Insurance reapproved the merger, and the companies agreed to a 15th waiver and agreement to each party’s right to terminate […]
The Hilb Group acquires book of business from payroll services company
Henrico County-based insurance company The Hilb Group LLC (THG) announced Tuesday the acquisition of a book of business from Cleveland-based payroll services company CBIZ Inc. The transaction was effective April 1. THG also hired CBIZ’s business unit president Peter Tarmey as a producer at THG. Tarmey is currently based in Cranston, Rhode Island, and will […]
Genworth Financial acquisition delayed again
The long-delayed $2.7 billion acquisition of Henrico County-based Genworth Financial Inc. by China Oceanwide Holdings Group Co. Ltd. has been postponed again. The Virginia State Corporation Commission’s Bureau of Insurance reapproved the merger and the companies agreed to a 14th waiver and agreement to each party’s right to terminate the proposed agreement. The latest waiver […]
