Hilb Group Acquires North Carolina-based Allegacy Benefit Solutions, Expands Southeast Employee Benefits Market Presence

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Oct 25, 2022, 09:15 ET

RICHMOND, Va., Oct. 25, 2022 /PRNewswire/ -- The Hilb Group announced today that it has acquired North Carolina-based Allegacy Benefit Solutions, further expanding the company's growing presence in the Southeast and broadening its expertise in the employee benefits arena. The acquisition took effect October 1, 2022.

Based in Winston-Salem, North Carolina, Allegacy Benefit Solutions designs robust, custom employee benefits programs and is committed to meeting client needs by building packages that help attract and retain top talent, promote engagement and reduce absenteeism, and maintain a healthier and more financially secure workforce. Sharon Yarborough, Chad Huff, and their team of insurance professionals will join Hilb Group's Southeast regional operations.

"This partnership represents a tremendous step for our organization and for our clients," Allegacy Benefit Solutions Vice President Chad Huff said. "With Hilb Group, we have the opportunity to build on and enhance the products and services we deliver to our customers. We are thrilled for what's ahead and what we will achieve together."

"We are extremely excited to join Hilb Group," said Allegacy Benefit Solutions Senior Vice President Sharon Yarborough. "Our team looks forward to providing the same local, trusted service to our customers and community, while utilizing the national resources offered through our partnership with the Hilb Group."

"Allegacy Benefit Solutions has established a strong reputation and valued relationships in an important market," Hilb Group CEO Ricky Spiro said. "Consistent with our growth strategy, they are positioned to deliver even greater offerings to an expanding client base. We are pleased to welcome them to the Hilb Group and excited for our next steps together."

About Hilb Group: The Hilb Group is a leading property and casualty and employee benefits insurance brokerage and advisory firm headquartered in Richmond, Virginia. Hilb Group is a portfolio company of The Carlyle Group, a global investment firm. Hilb Group seeks to grow through strategic acquisitions and by leveraging its resources and expertise to drive organic growth in its acquired agencies. The company has completed more than 140 acquisitions with over 100 offices in 22 states. Hilb Group is rated as one of the Fastest Growing Brokers by Business Insurance, a Top P/C Agency by Insurance Journal, and one of America's Fastest Growing Private Companies in the Inc. 5000. For more information on Hilb Group's growth as well as career opportunities, please visit our website at http://hilbgroup.com.

Media Contact:
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M&A Contact:
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SOURCE The Hilb Group, LLC