Hilb Group Expands in RI With OceanPoint Insurance Acquisition

OceanPoint boasts four locations throughout The Ocean State

The Hilb Group continues to grow its presence in New England with the acquisition of Rhode Island-based OceanPoint Insurance. According to the terms of the transaction, which became effective as of December 1, 2022, agency principal Doug Mayhew and his team of insurance professionals will join the Hilb Group’s New England regional operations. No further terms of the transaction were disclosed.

“OceanPoint aligns perfectly with our strategy of growing among industry leaders, as the agency brings a tremendous history of insurance experience and expertise, combined with deep, trusted client relationships, broad market presence, and an outstanding reputation,” said Hilb Group CEO Ricky Spiro. “We are pleased to welcome them to the Hilb Group and look forward to our growth for the future.”

Based in Middletown, Rhode Island, and with offices throughout the state, OceanPoint has served the southeastern New England community for more than 150 years. Operating as a full-service agency, the company provides complete property and casualty products and solutions, in addition to a broad array of employee benefits offerings for their clients in both commercial and personal lines.

“Joining the Hilb Group presents an exciting opportunity for our business and those we serve,” Doug Mayhew said. “The partnership we have created will deliver greater access to resources for our agency, our employees, and our customers. We approached this process carefully and realized that the Hilb Group’s service-driven culture represented the ideal fit for our team and the customers that depend on us.”

THG continues to grow its presence throughout New England

The following is a list of the Massachusetts-based agencies that the Hilb Group has acquired since 2015. Since Agency Checklists only began reporting on M&As and this agency in particular in 2016, the transaction listed for 2015 does not have a link.

In addition, prior to this year, we did not cover agency acquisitions outside Massachusetts. As such, those additional acquisitions by THG in New England, prior to 2021, are not reflected below.

• Hilb Group Acquires South Shore’s Cook & Company (2022)
• The Hilb Group Acquires King & Cushman (2022)
• Hilb Group Acquires Vermont-Based Paige & Campbell, Inc., Expands Market Presence And Client Offerings (2022)
• Hilb Group Adds A New Hampshire Agency (2021)
• Forrest Insurance Agency Acquired by The Hilb Group (2021)
• Hilb Group Completes Acquisition Of D.F. Dwyer & Associates, LLC (2021)
• The Hilb Group Adds MillBrook Benefits And Insurance Services To Its Growing List Of Massachusetts Acquisitions (2021)
• Compass Planners Joins Forces With The Hilb Group (2021)
• Chatham’s Eldredge & Lumpkin Sold To The Hilb Group (2020)
• The Hilb Group Acquires Group Brokerage Insurance Agency (2020)
• The Hilb Group, LLC Acquires LifePlus Insurance Agency, Inc. (2021)
• Another Massachusetts Insurance Producer Joins The Hilb Group (2019)
• The Hilb Group Acquires Southborough-based G&N Insurance
• The Hilb Group Adds Massachusetts-based, The Incentive Group To Its Growing Massachusetts Base (2019)
• The Hilb Group Acquires The Handy-Apple Valley Agency (2019)
• New England-based 360 Corporate Benefit Advisors Bought By The Hilb Group (2019)
• The Hilb Group Acquires Massachusetts’ Marsh-Kemp Insurance Agency (2019)
• The Hilb Group’s December Hat Trick: Three Mass. Agencies Purchased In A Month (2018)
• The Hilb Group, LLC Adds Mackintire Insurance Agency, Inc. (2018)
• The Hilb Group Acquires Massachusetts DBR Group (2018)
• The Hilb Group Acquires BAR Insurance Brokerage of Needham (2018) 
• Massachusetts’ HR Knowledge Acquired By The Hilb Group (2017)
• Massachusetts’s “Five Star” Agency, Mid-State Insurance, Purchased by THG (2017)
• The Hilb Group acquires Sapers & Wallacks (2017)
• The Hilb Group Acquires Hyannis’ Dowling & O’Neil (2016)
• Hilb Group Announces Acquisitions of Insurance Firms Gencorp and Cornerstone (2015)

A top 30 insurance agency in the United States

Formed in Richmond, Virginia in 2009, the Hilb Group has grown exponentially through targeted acquisitions in the middle market insurance brokerage space. THG now boasts over 90 offices throughout 21 states including Florida, Kentucky, Maryland, Massachusetts, New York, North Carolina, Tennessee, Texas, Virginia, and West Virginia.

In 2015, The Hilb Group became a portfolio company of ABRY Partners, a Boston-based equity fund. In October 2019, The Hilb Group itself was sold to The Carlyle Group in a deal valued at over a billion dollars. For those interested in reading more about this deal, please refer to Agency Checklists’ November 5, 2019 article entitled, “The Hilb Group Is Sold To The Carlyle Group.”