The Hilb Group has acquired Roseland-based E.B. Cohen Insurance and Risk Management, a move that the Richmond, Va.-based company says expands upon its growing presence in the Tri-State area.
Financial terms of the deal were not disclosed.
E.B. Cohen, which also has a New York office, has served the area for more than 90 years, providing insurance and risk management services to individuals and industries, with a focus on hospitality, real estate and small businesses. Principals David and Neil Owens and their team will join the Hilb Group’s Tri-State regional operations, the March 24 announcement stated.
“At E.B. Cohen, we pride ourselves on establishing long-term relationships with our clients and understanding their business to produce careful, customized solutions,” David Owens said in a statement. “The partnership we have created with the Hilb Group will deliver access to even greater national resources for both our agency and our customers.”
Neil Owens added that the partnership will “continue the legacy that Jonathan Cohen helped establish, prior to his retirement after more than six decades – including 52 years as leader – with our agency.”
The Hilb Group, a leading property and casualty and employee benefits insurance brokerage and advisory firm, has completed more than 130 acquisitions and now has more than 100 offices in 22 states, according to the company. It is a is a portfolio company of The Carlyle Group, a global investment firm.
“E.B. Cohen aligns perfectly with our strategy for growing among industry leaders – bringing a terrific history of insurance and risk management experience and expertise, combined with deep, trusted client relationships,” Hilb Group CEO Ricky Spiro added. “We are pleased to welcome them to our company, and we look forward to our next steps together.”