Hilb Group acquires Virginia middle-market insurance broker

GLEN ALLEN, Va.—Hilb Group L.L.C. said it has acquired Venture Specialty Insurance L.L.C., a Richmond, Va.-based middle-market broker that specializes in providing insurance and risk management for the hospitality, health care, waste operations and passenger transportation industries.

The transaction, terms of which were not disclosed, is the first to be completed under Hilb Group’s new ownership structure with BHMS Investments L.P. in New York, Hilb Group said in a statement Thursday.

The Hilb Group, based in Glenn Allen, Va., was founded in 2009 by Robert H. Hilb, the former founder, CEO and chairman of Hilb Rogal & Hobbs Co., which Willis Group Holdings acquired in 2008.