RICHMOND, Va.–The Hilb Group, LLC (THG) announced today the addition of NPB Insurance Services, Inc. (a wholly-owned subsidiary of New Peoples Bank, Inc.) in Bristol, Virginia. This deal continues THG’s rapid nationwide growth through acquisitions and enhances THG’s business across the state of Virginia. The transaction became effective July 1, 2016.
As a part of the deal, current customers of NPB Insurance Services, Inc. will be serviced by THG. New Peoples Bank will refer future insurance needs of its banking customers to THG’s operations based in Abingdon, Virginia.
“Our home state of Virginia is an area we’re very committed to expanding,” said Robert J. Hilb, founder and CEO of THG. “New Peoples Bank is an ideal partner to help strengthen our regional presence in the southwestern part of the state and we are excited to welcome them to our team.”
New Peoples Bank’s strong presence in local markets in southwest Virginia, southern West Virginia and northeast Tennessee will be a valuable asset to THG’s Abingdon-based business as it grows throughout the region.
“NPB Insurance has built an excellent reputation on providing great customer service and insurance services to its banking customers,” said Billy Witt, who leads THG’s operations in Abingdon. “We look forward to continuing that level of service to existing clients and expanding our presence in our area.”
About the Hilb Group: The Hilb Group is a leading middle market insurance agency headquartered in Richmond, Virginia and is a portfolio company of Boston-based private equity firm, ABRY Partners. The Hilb Group seeks to grow through targeted acquisitions in the middle market insurance brokerage space.