RICHMOND, Va., Feb. 11,
2013 /PRNewswire/ -- The Hilb Group, LLC ("THG") is pleased to
announce the acquisition of The Pennoyer Group, Inc. ("Pennoyer")
from its shareholders. The transaction was effective January 31st, 2013.
(Logo:
http://photos.prnewswire.com/prnh/20130107/NE37471LOGO)
Pennoyer was founded in 1978 by Paul
Pennoyer and is based in Crofton,
MD with an additional office in Bel Air, MD. Pennoyer provides personal and
commercial insurance solutions as well as a national specialty
niche insurance program targeting real estate agent professional
liability.
Robert J. Hilb, President
and CEO of THG said "we are delighted to welcome Paul and his team
to THG. This transaction continues our strategic plan of acquiring
strong mid-market agencies on the East Coast. We believe that with
THG, Pennoyer can grow aggressively in the DC-Baltimore area."
Paul Pennoyer, President
of Pennoyer said "THG is a great fit for us culturally and we are
excited to join forces with Bob and his team. Many Pennoyer
associates have been with me for over 20 years and it's great to
find a partner that values the experience of our people while
helping us grow our business."
The Hilb Group was founded in 2009 by Robert H. Hilb, the former founder, CEO and
Chairman of Hilb Rogal & Hobbs (NYSE:HRH), 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 headquartered in Richmond, VA with offices in Virginia, North
Carolina, Tennessee,
Georgia, Maryland, Connecticut and New
York.
Media Contact: Robert J. Hilb,
CEO
Phone: 804-414-6505
Email: mailto:rhilb@hilbgroup.com
Web: hilbgroup.com
SOURCE The Hilb Group, LLC