Hilb Group Announces Acquisition Of Lake Norman Benefits

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Nov 04, 2014, 08:17 ET

RICHMOND, Va., Nov. 4, 2014 /PRNewswire/ -- The Hilb Group, LLC ("THG") is pleased to announce the acquisition of Lake Norman Benefits ("LNB") of Charlotte, NC. The transaction was effective November 1^st, 2014. LNB will continue to operate at its current location under the leadership of previous owner and President, David Contorno.

Founded in 2008, LNB has grown exponentially focused on middle market employee benefits in North Carolina, Virginia and New York. Robert J. Hilb, President and CEO of THG said, "We're very excited to have David and his team join our company as well as the added expansion of employee benefits services. We believe Lake Norman's expertise will be very complimentary to our current services offered to our clients."

David Contorno, President of LNB added, "We don't really view this as selling our agency. In fact, we weren't looking to sell. However, what THG offered was the right fit for our agency, our employees and especially our customers." David further added "With the support of THG, we now can offer our clients increased competitive products, investments in technology and service, while continuing the tradition at LNB of staying ahead of the curve of financing the complex and expensive world of healthcare and employee benefits." David will remain as Agency President ensuring his 19 + years of benefits experience continues to drive the results his customers have come to expect from LNB.

The Hilb Group was founded in 2009 by Robert H. Hilb, the former founder, CEO and Chairman of Hilb, Rogal and Hobbs (NYSE: HRH), and Robert J. Hilb, a former corporate VP of HRH. The Hilb Group seeks to grow through targeted acquisitions in the middle market insurance brokerage space. The company is headquartered in Richmond, VA with 15 offices in Georgia, Florida, Kentucky, Maryland, New York, North Carolina, Tennessee, and Virginia.