Hilb Group Acquires Forrest Insurance Agency, Bolsters Property And Casualty Offerings

Oct 21, 2021•over 3 years ago

Acquiring Company

The Hilb Group

Acquired Company

Forrest Insurance Agency

IllinoisHuman ResourcesEmployee Benefits

Description

The Hilb Group announced today that it has acquired Massachusetts-based Forrest Insurance Agency, increasing its Property and Casualty (P&C) offerings and presence throughout New England. The transaction became effective October 1, 2021. Agency principals Larry Forrest and Michael Forrest and their team of insurance professionals will be joining Hilb Group's New England regional operations.

Company Information

Company

The Hilb Group

Location

Illinois, United States

About

The Hilb Group is a leading property and casualty and employee benefits insurance brokerage and advisory firm headquartered in Richmond, Virginia. It is a portfolio company of The Carlyle Group, a global investment firm. The company seeks to grow through strategic acquisitions and by leveraging its resources and expertise to drive organic growth in its acquired agencies. With over 125 offices in 29 states, The Hilb Group has completed more than 165 acquisitions and 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.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed

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