HRH Acquires Banack Insurance In Fla.
NU Online News Service, March 22, 2:38 p.m. EST? Insurance broker Hilb Rogal & Hobbs Company said it plans to acquire Banack Insurance Agency Inc. of Vero Beach, Fla.[@@]
Terms of the deal were not released.
HRH, based in Richmond, Va., said it expects the acquisition to be completed by April 1.
Founded in 1957, Sid Banack Insurance offers a wide range of property-casualty insurance, employer services, including employee benefits and employee leasing, and risk management services to clients in Florida's Indian River and Brevard counties. The firm reported revenue of $5.5 million in 2003.
Sidney M. "Sid" Banack Jr., his partners and associates will continue to serve clients from their current offices in Vero Beach and Melbourne, Fla., under the direction of Benjamin H. Tyler, vice president and Southeast regional director for HRH.
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