Richmond, Va.-based insurance broker Hilb, Rogal & Hobbs Company said it has signed an agreement to acquire the stock of London-headquartered Glencairn Group Limited, an independent Lloyd’s insurance and reinsurance broker group.

HRH said the deal will consist of a combination of cash and deferred cash consideration and will be financed through HRH’s existing revolving credit facility. The firm said it expects to complete the transaction on Jan. 2.

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