Virginia headquartered middle market insurance agency, The Hilb Group, LLC (THG) has announced the acquisition of Group Brokerage Insurance Agency, LLC (GBIA), a firm located in Waltham, Massachusetts.
The transaction became effective on January 1st, 2020 and sees THG acquire an employee benefits agency primarily providing group medical, dental, life, short & long-term disability, and long-term care insurance.
Under the terms of the transaction, John Siracusa, Founder of GBIA, and his entire team will join THG’s New England operations.
Commented on the deal, Siracusa said: “We are excited to join forces with THG. Now as part of a top 25 national broker with full service capabilities, we will be able to offer our existing customers with more robust coverage options, access to additional markets, and many value added services.”
Ricky Spiro, Chief Executive Officer (CEO) of THG, added: “GBIA has a comprehensive array of product offerings that are well aligned to further expand our employee benefits solutions in our New England region.
“We are thrilled to welcome John and his associates to THG’s New England team.”
