Key Takeaways
- • Hilb Group, a Carlyle Group portfolio company, acquired a full-service property and casualty and employee benefits agency in Pennsylvania, effective September 1, 2026, extending its footprint in the Mid-Atlantic region.
- • The Richmond, Virginia-based firm has now completed more than 200 acquisitions and operates 125+ offices across 32 states, executing a proven buy-and-build strategy to consolidate the fragmented insurance brokerage market.
- • Hilb Group's growth model leverages Carlyle's capital and operational resources to acquire agencies and expand them organically, demonstrating the private equity firm's commitment to scaling the platform post-acquisition in 2019.
Summary
Hilb Group, owned by The Carlyle Group since October 2019, continues its acquisition-driven expansion with the addition of a Pennsylvania-based property and casualty and employee benefits insurance agency. The deal closed on September 1, 2026, and bolsters Hilb Group's presence in the Mid-Atlantic market, a strategically important region for insurance brokerage consolidation.
The Richmond, Virginia-headquartered firm operates a disciplined buy-and-build strategy, acquiring independent agencies and deploying corporate resources—including technology, operations, and compliance infrastructure—to accelerate organic growth. With over 200 completed acquisitions and a network spanning 125+ offices across 32 states, Hilb Group has positioned itself as a significant consolidator in the fragmented $150+ billion U.S. insurance brokerage market. The Pennsylvania acquisition represents another incremental step in this multi-year capital deployment strategy under Carlyle's ownership.
The deal underscores private equity's continued appetite for insurance brokerages, which offer recurring revenue streams, modest capital intensity, and significant roll-up potential as independent agencies seek exits and regulatory compliance costs favor scale. For Carlyle, the Hilb Group platform demonstrates the value creation potential of acquiring market-leading brokers and using financial and operational leverage to compound returns through sustained acquisition activity.
The Richmond, Virginia-headquartered firm operates a disciplined buy-and-build strategy, acquiring independent agencies and deploying corporate resources—including technology, operations, and compliance infrastructure—to accelerate organic growth. With over 200 completed acquisitions and a network spanning 125+ offices across 32 states, Hilb Group has positioned itself as a significant consolidator in the fragmented $150+ billion U.S. insurance brokerage market. The Pennsylvania acquisition represents another incremental step in this multi-year capital deployment strategy under Carlyle's ownership.
The deal underscores private equity's continued appetite for insurance brokerages, which offer recurring revenue streams, modest capital intensity, and significant roll-up potential as independent agencies seek exits and regulatory compliance costs favor scale. For Carlyle, the Hilb Group platform demonstrates the value creation potential of acquiring market-leading brokers and using financial and operational leverage to compound returns through sustained acquisition activity.
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