The Hilb Group has acquired a Maryland-based employee benefits business, further expanding its operations in the Mid-Atlantic region. The transaction, which took effect April 1, 2025, strengthens the firm’s presence in the employee benefits market. The name of the acquired business was not disclosed, and financial terms were not made public.
Headquartered in Richmond, Virginia, the Hilb Group is a national insurance brokerage and advisory firm offering property and casualty, as well as employee benefits services. It is a portfolio company of The Carlyle Group, a global investment firm. Hilb Group’s strategy combines organic growth with acquisition activity, supported by centralized resources across its expanding national platform. To date, the company has completed more than 180 acquisitions and operates over 125 offices in 31 states.
The Maryland acquisition is the latest in a series of transactions aimed at expanding Hilb Group’s regional reach and capabilities. Also effective April 1, the firm acquired a property and casualty agency based in Maine, marking its entry into the state and strengthening its New England portfolio.
In previous months, Hilb Group acquired a New Hampshire-based property and casualty firm and a Texas-based agency, both part of the company’s continued investment in its property and casualty business. Financial details for these transactions were not disclosed.
In November 2024, Hilb Group added a Louisiana-based property and casualty business. That acquisition followed a refinancing initiative that increased the firm’s available debt capacity by more than $500 million. The refinancing included an upsized revolving credit facility and delayed draw term loan, designed to fund future acquisitions.
The company has also expanded into new business lines. In September 2024, it acquired a worksite enrollment firm in Colorado, entering a new market in the Midwest. A separate property and casualty acquisition in Texas was finalized in August 2024.
