Hilb Group, a leading insurance brokerage firm, announced that it has acquired OceanPoint Insurance, a regional insurance company based in Rhode Island. The acquisition will strengthen Hilb Group’s presence in the Northeast and expand its offerings to clients.
OceanPoint Insurance, which was founded in 1971, has a strong reputation for providing high-quality insurance products and services to individuals, families, and businesses in Rhode Island and southeastern Massachusetts. Its team of experienced insurance professionals has built long-lasting relationships with clients and a deep understanding of the local market.
Hilb Group, which was founded in 2009, has grown rapidly in the past decade by acquiring and integrating other insurance brokerage firms. It has a national footprint and offers a wide range of insurance products and services, including property and casualty, employee benefits, and personal lines insurance.
The acquisition of OceanPoint Insurance represents a strategic move for Hilb Group, as it allows the company to enter a new region and expand its offerings to clients. It also provides OceanPoint Insurance with the resources and expertise of a larger organization, which will help it to continue to grow and serve its clients effectively.
Overall, the acquisition of OceanPoint Insurance by Hilb Group is a positive development for both companies and their clients. It will create new growth opportunities and allow both companies to better serve their customers by offering a wider range of insurance products and services.
Today, the Hilb Group announced that it has entered into a partnership with OceanPoint Insurance, a Rhode Island-based company. This partnership will further establish the Hilb Group as a market leader in the New England region. The partnership will be effective as of December 1, 2022.
Located in Middletown, Rhode Island, and with branches throughout the state, OceanPoint has been serving the southeastern New England community for more than 150 years. The agency offers a range of property and casualty insurance products and solutions, as well as employee benefits options for both commercial and personal lines clients. Doug Mayhew, the principal of the agency, and his team of insurance professionals will join the Hilb Group’s New England regional operations.
“The Hilb Group is thrilled to welcome OceanPoint to our team,” said Ricky Spiro, CEO of the Hilb Group. “OceanPoint aligns perfectly with our strategy of expanding among industry leaders, as they bring a wealth of insurance experience and expertise, along with strong client relationships, a wide market presence, and an excellent reputation. We are confident that this partnership will provide greater resources for our agency, our employees, and our customers, and we are excited to work together to achieve future growth.” Doug Mayhew, the CEO of OceanPoint, also commented on the partnership, stating, “Joining the Hilb Group presents a fantastic opportunity for our business and those we serve. After careful consideration, we found that the Hilb Group’s service-oriented culture was the perfect fit for our team and our customers. We are looking forward to this collaboration and the benefits it will bring.”
The Hilb Group is a leading insurance brokerage and advisory firm based in Richmond, Virginia. It specializes in property and casualty and employee benefits insurance and has a strong track record of growth through strategic acquisitions and organic expansion within its acquired agencies. The company has completed over 145 acquisitions and has a presence in 23 states, with over 100 offices. The Hilb Group is owned by The Carlyle Group, a global investment firm, and has been recognized 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. The company’s website, http://hilbgroup.com, provides more information about its growth and career opportunities.