Hilb Group acquires North Carolina employee benefits broker

The Hilb Group L.L.C. has acquired middle market employee benefits broker Lake Norman Benefits Inc.

Mooresville, North Carolina-based Lake Norman Benefits will remain at its current location under the leadership of agency President David Contorno, Richmond, Virginia-based Hilb said Tuesday in a statement.

“Lake Norman's expertise will be very complementary to our current services offered to our clients,” Hilb Group President and CEO Robert J. Hilb said in the statement.

“We don't really view this as selling our agency,” Mr. Contorno said. “With the support of (The Hilb Group), we now can offer our clients increased competitive products (and) investments in technology and service.”

Terms of the deal were not disclosed.