Property and casualty insurance provider, The Hilb Group (THG) has acquired Delaware-based CNC Insurance Associates for undisclosed sum.
The transaction, which is 38th acquisition for THG since it was set up in 2009, was effective from 1 October.
CNC was established in 1978 and has been providing property and casualty insurance solutions for businesses in Delaware, Maryland, Pennsylvania, New Jersey and Virginia. It has its office in Dover, Delaware and it is claimed to be Hilb Group’s first acquisition in the state.
The Hilb Group CEO Ricky Spiro said: “The addition of CNC continues THG’s national expansion and will further strengthen our presence in the Mid-Atlantic region.
“We are excited to welcome Kevin and his associates to our team.”
After the acquisition, CNC managing director Kevin Nemith will continue in his role from the company’s existing location.
Kevin Nemith said: “Joining THG will allow us to gain additional product and service offerings that will benefit our clients while continuing to deliver the exceptional, local service we are known for.
“We look forward to furthering our success with this new partnership.”
In September, THG acquired Mid-State Insurance Agency, which is a Massachusetts-based company. It offers a wide range of property and casualty insurance, and employee benefit products to businesses and individuals across the New England region.
Besides, Keough Kirby Associates, a Woonsocket, Rhode Island-based insurance company was acquired by THB in May this year. Keough Kirby Associates was established in 1914.
Image: The Hilb Group acquires CNC Insurance Associates. Photo: Courtesy of adamr/FreeDigitalPhotos.net