HRH Completes Vermont MGU Purchase
|NU Online News Service, Dec. 3, 11:30 a.m.EST?Hilb, Rogal & Hobbs Company said it has completedits acquisition of Smith, Bell & Thompson Inc., a Vermont-basedmanaging general underwriter.[@@]
|The Richmond, Va.-based insurance broker announced plans to makethe acquisition in mid-November.
|Terms of the deal were not released.
|The Burlington, Vt.-based MGU reported revenue of $13.5 millionin 2003.
|HRH said that with the completion of this deal, it has acquiredmore than $80 million in annualized revenues in nine transactionsthis year, exceeding its goal of acquiring $30-to-$60 million inannualized revenues.
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