Hilb Group acquires NJ risk management company

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Henrico County insurer adds EB Cohen Insurance and Risk Management

Posted

March 24, 2022




by

Catherine Schulte


Henrico County-based insurance company The Hilb Group LLC announced Thursday that it has acquired New Jersey-based EB Cohen Insurance and Risk Management.

Financial terms of the transaction were not disclosed.

“EB Cohen aligns perfectly with our strategy to grow among industry leaders – bringing tremendous insurance and risk management experience and expertise, combined with deep and trusted client relationships,” said Hilb Group CEO Ricky Spiro said in a statement. “We are happy to welcome them to our business and look forward to our next steps together.”

EB Cohen has been in business for over 90 years and has offices in Roseland, New Jersey and New York. The company focuses on hospitality, real estate and small businesses. Branch managers David Owens and Neil Owens, who are brothers, and their employees will join the Hilb Group’s regional operations.

“At EB Cohen, we pride ourselves on building long-term relationships with our customers and understanding their business to produce thoughtful, personalized solutions,” David Owens said in a statement. “The partnership we have created with The Hilb Group will provide access to even greater national resources for our agency and our clients.”

The Hilb Group was founded in 2009 and has been a portfolio company of Washington, D.C.-based investment management firm The Carlyle Group since 2019. At its more than 100 offices in 22 states, THG employs approximately 2,000 people and has acquired more than 130 companies. .

Governor Glenn Youngkin was previously co-CEO of The Carlyle Group. He retired in 2020.

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