US insurance brokerage The Hilb Group (THG) has acquired Maryland-based Parallel Risk Advisors (PRA).
PRA is a commercial lines property and casualty (P&C) consulting and advisory firm specialising in the commercial real estate industry.
As a part of the transaction, which became effective on January 1st, 2021, the three principals: Debbie Dorsch, Jessica Gray, and Eileen Hartzell and their associates will join THG’s Mid-Atlantic region.
Dorsch said: “We are committed to our clients and their unique needs. THG, the brand they offer, and the resources they provide will only strengthen our ability serve our clients.”
Ricky Spiro, THG Chief Executive Officer (CEO), added: “We are excited to welcome Debbie, Jessica, Eileen, and their team to THG. This terrific business brings significant risk management expertise to our Mid-Atlantic team.”
The acquisition comes just weeks after THG announced the takeover of Indiana-based Star Insurance Agency.