HRH Completes Bliss & Glennon Acquisition
NU Online News Service, Oct. 2, 2:06 p.m. EDT? Hilb, Rogal & Hobbs Co. announced it has completed its acquisition of Bliss and Glennon Inc. Terms of the purchase were not disclosed.
Headquartered in Redondo Beach, Calif., the managing general agency and wholesale broker specializes in the distribution of excess and surplus lines insurance, primarily focusing on general liability and special multi-peril commercial package policies. In addition to its Redondo Beach headquarters, Bliss and Glennon has three branch offices located throughout California.
Bliss and Glennon, founded in 1966, reported more than $13 million in revenues in 2002, HRH said. The firm said the MGA's excess and surplus lines insurance utilizes more than 50 insurance markets and a network of more than 2,000 independent retail agents and brokers.
Martin L. Vaughan III, chairman and chief executive officer of Richmond, Va.-based HRH, said in a statement, "The acquisition of Bliss and Glennon further strengthens our growing excess and surplus lines capabilities. We are delighted that this highly-regarded operation has chosen HRH as its partner."
The broker announced it signed a definitive agreement to acquire Bliss and Glennon on Sept. 23 and completed the transaction yesterday.
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