HRH Acquires Sid Banack Insurance
NU Online News Service, April 14, 10:24 a.m. EDT?Hilb, Rogal & Hobbs Inc. of Richmond, Va., has acquired Vero Beach, Fla.-based Sid Banack Insurance Inc.Terms were not released.[@@]
The announced acquisition includes SBI's Vero Beach and Melbourne, Fla., offices.
SBI operates a multi-line property-casualty agency serving middle market commercial and select personal clients, with a concentration in the agriculture industry. The firm has reported revenue of $7 million.
The acquisition follows the spin-off of SBI's Palm Beach Gardens office to an investor group linked with Insurance Office of America earlier this year.
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