Hilb Rogal & Hobbs Co. is back on track in terms of growth on the acquisition front.

The Glen Allen, Va.-based brokerage, which is known for growth through acquisitions, completed acquisitions worth more than $35 million in annual revenues in 2006, said Chairman and Chief Executive Officer Martin L. Vaughan III. The pace thus far in 2007 has been even swifter, with acquisitions worth about $75 million in annual revenue coming into the HRH fold, he said.

Last year's notable acquisitions included Chicago-based insurance agency and brokerage Thilman & Filippani L.L.C., which generated annual revenues of about $27.2 million.

Perhaps the most notable acquisition thus far this year has been London-based Glencairn Group Ltd., which strengthened HRH's international capabilities in areas such as Australia, Russia and South Africa.

HRH's 2006 brokerage revenues, which account for most of HRH's total gross revenues, rose about 5.8% to slightly more than $696 million.

That put HRH in 9th place in the Business Insurance 2007 ranking.

"We're pretty pleased with '06 and our performance" compared with the challenges of the two previous years, said Mr. Vaughan.

By the end of last year, HRH had "completed our last five-year plan and the results were excellent," he said. "We doubled the size of the company, we doubled the cash earnings of the company and we did that even though some of the external factors" were challenging, such as rate declines and "considerable turmoil in the industry."

"We've continued to try to grow particularly our employee benefits business," said Mr. Vaughan, noting that HRH has added retirement consulting to its offerings.

Turning to the question of compensation and disclosure, Mr. Vaughan said, "We feel like we have the fairest and most workable solution to the compensation issue--and we also feel like it's simple to understand.

"We do not accept contingents on broker business; we do accept contingents on agency business where we are being paid by the underwriter."

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