The Hilb Group, LLC (“THG”) has acquired another Massachusetts-based agency in 2020. The Richmond-based has welcomed LifePlus Insurance Agency, Inc. (“LPINS”). According to the terms of the transaction which effective as of March 1, 2020, LPINS’ associates will continue to operate out of their existing office in Marshfield, Massachusetts under the direction of Peter A. Cook, Jr., LPINS Agency Leader.
“We are excited to add another experienced agency to our expanding employee benefits platform,” said Ricky Spiro, CEO of THG. “Peter and his team bring a long history of benefit knowledge in the municipal sector, and their skills will make them a great addition to our THG of New England team.”
Established in 2004, LPINS is a full-service ancillary benefits agency, primarily providing insurance for group life, worksite, dental, and workers’ compensation, predominantly to municipalities in Massachusetts.
“LPINS is committed to providing its customers with the insurance solutions that fit their unique needs,” said Cook. “Joining THG will allow our customers to continue to benefit from this service and to now have access to a broader range of products and support that comes with a leading national brokerage.”
Other Massachusetts insurance agencies THG has acquired since 2015
The latest insurance agency acquisition in Massachusetts marks THG’s second acquisition announcement in the Commonwealth for the year 2020 and its nineteenth agency acquisition here since 2015.
The following is Agency Checklists’ running list of the Massachusetts-based agencies that the Hilb Group reportedly acquired since 2009. Since we only started reporting on M&As and this agency in particular in 2016, the 2015 transaction does not have a link.
- The Hilb Group Acquires Group Brokerage Insurance Agency (2020)
- Another Massachusetts Insurance Producer Joins The Hilb Group (2019)
- The Hilb Group Acquires Southborough-based G&N Insurance (2019)
- 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)
THG is now 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 now has 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.”
