Hiram Cohen & Son, founded in 1919, is being run by the fourth generation in the family and is The Hilb Group’s 101st acquisition to date
THG to acquire New York-based agency. (Credit: Pixabay/Gerd Altmann.)
The Hilb Group (THG), a Virginia-headquartered property & casualty (P&C) broker, has completed the acquisition of Hiram Cohen & Son (HCS), a New York-based P&C focused agency, for an undisclosed amount.
The deal has become effective on 1 December this year. Founded in 1919 by Hiram Cohen, HCS is still being operated by the fourth generation of his descendants.
HCS is a P&C focused agency which specialises in high net worth personal lines, real estate, law firms, financial institutions, family offices, retailers and importers of all kinds.
The management team of HCS includes Ronald Cohen, Darren Cohen and their associates will continue to operate out of their office in Williston Park as part of the Tri-State operations of THG, the insurance agency said.
Hiram Cohen & Son principal Ronald Cohen said: “Our long-term client relationships are our top priority.
“By joining THG, our clients will receive the same degree of customer service that they have come to expect, plus the additional capabilities, expertise and resources available through a larger organization like THG.”
Hiram Cohen & Son principal Darren Cohen said: “Throughout the process, we got to know many of the people at THG and was impressed with the dedication, knowledge and kindness. Partnering with THG will set us on the right path for the next 100 years.”
The deal is claimed to have been a milestone for both firms. For HCS, it is its 101st year in business, while for THG, the deal is its 101st acquisition till now.
The Hilb Group CEO Ricky Spiro said: “I’ve known Ron and Darren for more than 10 years and I’m excited they are now part of the THG team. HCS has a long history of providing expert advice coupled with top-notch client service.
“THG welcomes this established team of experienced professionals to continue to fuel growth in the Tri-State region.”
In December last year, THG acquired Wickford Insurance Agency (WIA), a Rhode Island-based, full-service property and casualty insurance agency for businesses and individuals, for an undisclosed amount.