Richmond, Va.-based Hilb Rogal & Hobbs Company has purchased a book of accounts from Benchmark Insurance Company, a major underwriter of retail grocers, effective as of May 1, 2006. Terms of the transaction were not disclosed.
With a revenue base of just over $900,000 in 2005, the accounts were purchased by HRH’s Oklahoma operation and will be managed by the branch president, Frank Shadid. Benchmark will continue to do business as an insurance company.
“We are excited to have this opportunity to acquire these accounts after working with Benchmark for many years,” said Shadid. “HRH already maintains a strong geographic footprint within the grocer industry and the purchase of Benchmark’s grocery accounts will further enhance our specialty capabilities in the grocery segment. We are looking forward to servicing these accounts with our wide array of distinctive resources in the future.”
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