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Watershed moment
Hampton Roads is besieged by hurricanes, nor’easters and full moon tidal surges, but it’s not just coastal Virginia homes and businesses that are threatened by increased flooding. “Climate change is causing the state as a whole to deal with flooding and flood- related issues. It impacts a lot of people throughout the state[...]
Hilb Group founder to lead acquisitions for Virginia Beach firm
Robert “Bob” Hilb will lead mergers and acquisitions at Virginia Beach-based insurance agency Choice Financial Group and continue to serve as a senior adviser and board member, the company announced Wednesday. “Bob’s experience and knowledge assisted my agency in achieving 700% growth from 2018 to 2021,” Richard Braun,[...]
Markel promotes Hollis Zyglocke to lead mid-Atlantic region
Glen Allen-based Fortune 500 holding company for insurance, reinsurance and investment operations Markel Corp. has promoted Hollis Zyglocke to regional president, mid-Atlantic region, for the company’s Markel Specialty division, the company announced Thursday. Zyglocke will lead the region within Markel Specialty’s e[...]
Insurance startup to create 70 jobs with Henrico HQ
Startup specialty property and casualty insurance holding company Richmond National Insurance Co. (RNIC) will create about 70 jobs over the next three years as it establishes its headquarters in Henrico County, Gov. Ralph Northam announced Friday. “The commonwealth is always looking to create an environment that supports startups and businesses of all sizes,” Northam said […]
Genworth completes IPO for mortgage insurance subsidiary
Henrico County-based Fortune 500 insurer Genworth Financial Inc. completed the once-delayed initial public offering of its mortgage insurance subsidiary, Raleigh, North Carolina-based Enact Holdings Inc., it announced Monday. Between the IPO and a private sale of shares, Genworth received aggregate net proceeds of about $535 million after underwriters’ fees but before other expenses. Genworth Holdings […][...]
Genworth launches IPO for mortgage insurance subsidiary
Nearly five months after it was first announced, Henrico County-based Fortune 500 insurer Genworth Financial Inc. on Monday launched an initial public offering for its private mortgage insurance subsidiary, Raleigh, North Carolina-based Enact Holdings Inc. Genworth Holdings Inc. (GHI), a wholly owned subsidiary of Genworth Financial, is offering 13.31 million shares of common stock in […]
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 […]
Henrico-based The Hilb Group announces four acquisitions
Henrico County-based insurance company The Hilb Group LLC (THG) announced a series of acquisitions in the last three weeks, bringing its total offices to more than 100 in 22 states. The company has been focused on acquisitions in recent years. Founded in 2009, THG has been a portfolio company of Washington, D.C.-based investment management company […]
Genworth files for mortgage insurance biz IPO
Henrico County-based Fortune 500 insurer Genworth Financial Inc. filed paperwork with the U.S. Securities and Exchange Commission Monday for a proposed initial public offering of the company’s mortgage insurance business. J.P. Morgan and Goldman Sachs & Co. LLC will serve as joint book-running managers for the proposed offering of Genworth Mortgage Holdings Inc. (GMHI), a […]
Genworth kills long-delayed $2.7B acquisition
Henrico County-based Fortune 500 insurer Genworth Financial Inc. announced Tuesday that it has formally terminated its long-delayed $2.7 billion acquisition by China-based Oceanwide Holdings Group Co. Ltd. The news follows a Jan. 5 announcement by Genworth that it was putting a hold on the deal, first announced in 2016. At the same time, the company […]
The Hilb Group acquires Medicare-focused firm
Henrico County-based insurance company The Hilb Group LLC announced Tuesday it has acquired West Greenwich, Rhode Island-based Compass Planners (CP). Financial terms of the transaction were not disclosed. Led by Jim Soucy, CP is an insurance company that specializes in Medicare Advantage. Soucy and his three colleagues will join THG’s Cranston, Rhode Island office. Soucy […]
Va. Beach insurance company names president, VP
Virginia Beach-based insurance company Core Assurance Partners Inc. announced Tuesday that Zack Brandau has been named as president and Will Russell has been named as vice president. Brandau, a founding principal of the firm, will oversee the firm’s daily operations and growth initiatives. He succeeds Doug Russell, who had ser[...]
