Founded in 1978 by Paul Pennoyer, Pennoyer Group provides personal and commercial insurance solutions as well as a national specialty niche insurance program targeting real estate agent professional liability.
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Commenting on the acquisition, Hilb Group president and CEO, Robert Hilb, said: "We are delighted to welcome Paul and his team to THG. This transaction continues our strategic plan of acquiring strong mid-market agencies on the East Coast. We believe that with THG, Pennoyer can grow aggressively in the DC-Baltimore area."
Pennoyer Group president, Paul Pennoyer, said: "THG is a great fit for us culturally and we are excited to join forces with Bob and his team. Many Pennoyer associates have been with me for over 20 years and it’s great to find a partner that values the experience of our people while helping us grow our business."
Founded in 2009, Hilb Group seeks to grow through targeted acquisition and strategic alliances in the middle market insurance brokerage space. It has offices in Virginia, North Carolina, Tennessee, Georgia, Connecticut and New York.
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