The Hilb Group (THG), a middle market insurance agency headquartered in the US state of Virginia, has acquired Rhode Island-based Aloisio Insurance Associates (AIA).
Operating as a full-service insurance agency, AIA mainly offers property & casualty insurance to individuals and businesses in the Rhode Island area.
As per the terms of the agreement, AIA and its associates will be absorbed by the THG’s regional operations in New England.
Commenting on the deal, AIA Agency president Art Aloisio said: “Joining THG will allow us to further support our clients with a multitude of additional services.
“Our team is looking forward to the next chapter in AIA’s history with expanded resources and the ability to collaborate with THG agencies across the nation.”
THG CEO Ricky Spiro said: “AIA has developed the reputation of excellent customer service since its establishment in 1961 that is a perfect fit for the culture we are creating at THG. We are extremely pleased to welcome Art and his team to our expanding team at THG.”
2018: A year of acquisitions for THG
In 2018, THG embarked on an acquisition spree and purchased a number of insurance companies.
In December, it purchased four insurance firms, namely H.J. Knight International Insurance Agency, Massachusetts-based insurance broker Bruce Crohn as well as Mackintire Insurance Agency, in addition to South Carolina-based Huckaby & Associates.
In October, THG bought Michigan-based Burns & Eustice Insurance Agency, and Massachusetts–based DBR Group.
The Hilb Group also acquired Maryland-based property/casualty insurance agency Southern Maryland Insurance and Massachusetts–based BAR Insurance Brokerage in July and June, respectively.
In May, THG acquired New York-based Bentson Insurance Group that specialised in home and business insurance in addition to group benefits insurance.