Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Business Law
    • Commercial Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • Coronavirus 2020
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Diversity Leadership Series
    • Vote Now for Women in Leadership
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read the issue
    • Order a copy
    • Buy an award plaque
    • Nominate execs for 2021

Advertisement

Header Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Home News The Hilb Group makes 10th acquisition within past year

The Hilb Group makes 10th acquisition within past year

Henrico-based insurance company buys Mich.-based CIA Financial Group Inc.

Published July 22, 2020 by Sydney Lake

In its second acquisition announcement of the week, Henrico County-based insurance company The Hilb Group LLC (THG) on Wednesday announced it has acquired Michigan-based CIA Financial Group Inc. The transaction was effective July 1.

A transaction amount was not disclosed.

Since 2015, THG has acquired more than 60 companies. The purchase of CIA Financial is the company’s 10th acquisition within the last 12 months. On Tuesday, THG announced it had acquired Massachusetts-based Eldredge & Lumpkin Insurance Agency Inc., which was also effective July 1.

Founded in 1975, CIA Financial is an independent insurance agency offering insurance and risk management services to clients in Michigan. With the transaction, CIA Financial Agency Leader Sam Crudo will join THG’s Midwest operations and continue to work out of the company’s existing Shelby Township location.

“THG has a strong reputation in the insurance industry with similar values and a shared commitment to customers,” Crudo said in a statement. “The [CIA Financial] team looks forward to the continued growth and resources to support our customers in many of the areas where THG possesses a distinctive capability and breadth of relationships.”

THG was founded in 2009 and has been a portfolio company of Washington, D.C.-based investment management company The Carlyle Group since late 2019. Across its 90 offices in 21 states, the company employs more than 900 people. 

“We are excited to welcome [CIA Financial] to our team as we continue to build on our momentum of growth in the region,” THG CEO Ricky Spiro said in a statement. “We believe the combination of our existing team in the Midwest and the [CIA Financial] team will provide great opportunities for our customers and for THG.”

 

Subscribe to Virginia Business.

Get our daily e-newsletter.

Related Stories

Virginia Business logo

The Hilb Group acquires Md.-based insurance company

Henrico County company makes 12th acquisition in 12 months

Virginia Business logo

The Hilb Group makes third acquisition announcement of 2021

Henrico County insurance company buys Rampart Brokerage Corp. & Affiliates

Virginia Business logo

Henrico-based The Hilb Group announces four acquisitions

Fast-growing insurance company now has 100+ offices in 22 states

Trending

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Advertisement

Advertisement

Trending

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk