Hilb Group Acquires Rhode Island-based OceanPoint Insurance, Expands New England Market Presence

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Dec 26, 2022, 09:15 ET

RICHMOND, Va., Dec. 26, 2022 /PRNewswire/ -- The Hilb Group announced today that it has partnered with Rhode Island-based OceanPoint Insurance, building upon the company's growing presence as a market leader in the New England region. The transaction became effective December 1, 2022.

Based in Middletown, Rhode Island, and with offices throughout the state, OceanPoint has been serving the southeastern New England community for more than 150 years. The agency provides complete property and casualty products and solutions, as well as broad employee benefits offerings for their clients in both commercial and personal lines. Agency principal Doug Mayhew and his team of insurance professionals will join the Hilb Group's New England regional operations.

"Joining the Hilb Group presents an exciting opportunity for our business and those we serve," Doug Mayhew said. "The partnership we have created will deliver greater access to resources for our agency, our employees, and our customers. We approached this process carefully and realized that the Hilb Group's service-driven culture represented the ideal fit for our team and the customers that depend on us."

"OceanPoint aligns perfectly with our strategy of growing among industry leaders, as the agency brings a tremendous history of insurance experience and expertise, combined with deep, trusted client relationships, broad market presence, and an outstanding reputation," said Hilb Group CEO Ricky Spiro. "We are pleased to welcome them to the Hilb Group and look forward to our growth for the future."

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 145 acquisitions with over 100 offices in 23 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:
Peter Lobred
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M&A Contact:
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SOURCE The Hilb Group, LLC