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Member, Beacon International Group, Ltd.
NASHVILLE, Tenn.—The Hilb Group L.L.C. has acquired MDM Covenant Insurance L.L.C., a middle-market insurance agency serving the fast-food restaurant industry.
MDM, located in Nashville, Tenn., and Atlanta, also provides general insurance brokerage services to local businesses with specialties in higher education, professional services, real estate and financial services.
Terms of the deal, which was announced June 11 were not disclosed.
The acquisition will enable MDM to expand the range of offerings as well as pursue new programs, said Chris Meadows, one of the founders of MDM, in a statement.
In addition, the acquisition will enable Hilb to shore up presence in the Southeast, “a vital part of our business plan,” Robert J. Hilb, president and CEO, said in the statement.
Mr. Hilb, a former corporate vp of Hilb Rogal & Hobbs Co., and Robert H. Hilb, the founder and former CEO and chairman of HRH, founded Hilb Group in 2009 after the 2008 acquisition of HRH by Willis Group Holdings.
The acquisition was Hilb Group's second under its new ownership structure with BHMS Investments L.P. in New York. Hilb Group also opened a new office in Rochester, N.Y., and expanded its existing branch in Bay Shore, N.Y., last fall.
Based in Richmond, Va., Hilb Group provides property/casualty, life and health, and employee benefits products and services.