The Hilb Group acquires Florida insurance agency

Henrico County-based insurance company The Hilb Group LLC (THG) announced Tuesday the acquisition of Bonita Springs, Florida-based Regency Insurance Group LLC (RIG), effective Feb. 1.

Financial terms of the acquisition were not disclosed.

RIG is a property and casualty agency that specializes in personal lines coverage including home, auto, flood and watercraft insurance. RIG co-founders Kagen Cooksley and Kevin Koelemeyer will continue to lead their associates in their existing office location despite the acquisition by THG.

“We believe this presents an opportunity to further improve and expand the quality service and insurance solutions we provide our clients,” Cooksley said in a statement.

Founded in 2009, THG has been a portfolio company of Washington, D.C.-based investment management company The Carlyle Group since late 2019. THG  has more than 90 offices in 21 states, employing more than 900 people.

THG has acquired more than 60 companies since 2015. Since July 2019, THG has acquired insurance companies including New York-based BR Vital Brokerage Inc., Pennsylvania-based Greenwald Berk Agency LLC, Massachusetts-based The Incentive Group LLC, New York-based Avanti Associated Ltd., Massachusetts-based Gould & Naimoli Partners LLC, North Carolina-based Employee Benefit Advisors of the Carolinas LLC and Rhode Island-based Wickford Insurance Agency Inc.