HRH Completes Insurance Services Deal
NU Online News Service, Oct. 1, 4 :15 p.m. EDT?Hilb Rogal & Hobbs Company said it has completed its acquisition of Insurance Services, Inc.-based in Appleton, Wis.[@@]
Terms of the purchase were not announced. Founded in 1868, Insurance Services employs 50 professionals, and reported approximately $6.8 million in revenue in 2003. The firm provides risk management, commercial property-casualty insurance and employee benefits products to clients.
The firm's president, Kelly P. Kornely, will continue to manage Insurance Services and report to John P. McGrath, HRH vice president and Midwest regional director for the Richmond, Va.-based firm.
HRH said, with the completion of the Insurance Services acquisition, the company has acquired more than $63 million in annualized revenues in seven transactions in 2004, exceeding its goal for the year of acquiring $30 million to $60 million in annualized revenues.
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