GLEN ALLEN, Va., Sept. 15, 2011 /PRNewswire/ -- The Hilb Group, LLC ("THG" or "Hilb") is pleased to announce the acquisition of Venture Specialty Insurance ("VSI") of Richmond, Va. effective September 1, 2011. VSI provides specialized insurance solutions for customers in over 25 states. Jason Angus, founder and President of VSI, will continue as President of VSI and will assume the role of Chief Marketing Officer for THG effective with the closing of the transaction.
"We are extremely pleased to welcome Venture Specialty, Jason Angus and his team to The Hilb Group and we're thrilled that the Hilb name is back in the Richmond market," said Robert J. Hilb, President and CEO of THG. "We believe that VSI's industry focus and proven marketing methodology will provide a foundation for significant growth."
Jason Angus, President of VSI and the newly formed Hilb Group of Virginia commented, "I was not looking to sell. However, after meeting Bob and the team I quickly understood what we could accomplish with the resources and experience THG has assembled. My entire team is very excited to be part of the THG growth story."
The VSI transaction is the first completed under THG's new ownership structure with BHMS Investments, LP ("BHMS") of New York, NY. Kevin Angelis, Managing Director of BHMS commented, "We are excited to have a transaction completed so quickly after our investment in THG. VSI is a highly complementary fit, both with regard to its people and being in Richmond. We look forward to its continued growth and success as part of The Hilb Group."
The Hilb Group was founded in 2009 by Robert H. Hilb, the former founder, CEO and Chairman of Hilb Rogal & Hobbs, and Robert J. Hilb, a former Corporate VP of HRH. The Hilb Group seeks to grow through targeted acquisition and strategic alliances in the middle market insurance brokerage space. The Hilb Group is based in Glen Allen, VA with offices in Simsbury, CT, Bay Shore, NY, Rochester, NY and Westchester County, NY.
SOURCE The Hilb Group