The Hilb Group (THG ) announced the acquisition of CityInsurance, the insurance operations of City National Bank of Charleston, WV.
The transaction was effective January, 1 2015. CityInsurance will remain under the leadership of James Myers and will continue to operate from City National’s offices in Kanawha City and Teays Valley (both in the Charleston, WV area) and from City’s Park Avenue Branch in Beckley, West Virginia.
Additionally, CityInsurance will continue to provide personal insurance from selected other City National Bank branches.
While City’s core business is banking, they began to expand the insurance division after the privatization of workers compensation in 2006 and hired James Myers to lead the agency.
City Holding Company President & CEO Charles Hageboeck said: ""We believe that THG represents an excellent way for the producers and staff at CityInsurance to continue to grow in the years ahead."
Robert J. Hilb, President and CEO of THG said, "We are thrilled to have CityInsurance as a part of the Hilb Group. We believe this transition will create enormous opportunity for all CityInsurance employees as they will now be a part of a dynamic and growing insurance organization. With our combined resources we can expand the product offering and expertise available to all CityInsurance customers."
The Hilb Group was founded in 2009 by Robert H. Hilb, the former founder, CEO and Chairman of Hilb, Rogal and Hobbs 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 offices in Georgia, Florida, Kentucky, Maryland, New York, North Carolina, Tennessee, Virginia, and West Virginia.