RICHMOND, Va., March 21, 2017 /PRNewswire/ -- The Hilb Group, LLC (THG) announced today the acquisition of New Jersey – based American Truck Insurance Exchange, LLC (ATIE). The transaction became effective March 1, 2017.
ATIE is a property and casualty insurance agency that specializes in the trucking industry. All of ATIE's employees along with the managing partners, Rich Minerva and Ryan Proud, are joining THG under their existing name and will continue to operate out of their office in Manasquan, NJ.
"With over 40 years in the insurance industry, Rich, Ryan and their team possess considerable experience in trucking insurance," said Robert J. Hilb, Founder and CEO of THG. "Not only is ATIE's insight beneficial to our team but the addition of their agency will expand our already substantial transportation operations in New Jersey. We are excited for them to join our team."
"For many years, ATIE has been delivering the expertise and results our clients have depended on to help manage risk in their businesses," said Rich Minerva. "Combining forces with THG will allow us to expand the services we provide to our clients and establish new opportunities for our associates."
About the Hilb Group: The Hilb Group is a leading middle market insurance agency headquartered in Richmond, Virginia and is a portfolio company of Boston-based private equity firm, ABRY Partners. The Hilb Group seeks to grow through targeted acquisitions in the middle market insurance brokerage space. Please visit our website at: http://hilbgroup.com.
SOURCE The Hilb Group, LLC