Hub International Limited, the Chicago-based global insurance brokerage and financial services firm, has expanded its presence in coastal South Carolina by acquiring the assets of Tilghman Insurance of Myrtle Beach, LLC. Announced on September 8 2022, the transaction marks another step in Hub’s strategic expansion across the Carolinas. The financial terms of the deal have not been disclosed.
Tilghman Insurance of Myrtle Beach, based in Myrtle Beach, South Carolina, has served the region’s commercial and personal insurance needs for over a decade. The acquisition will see Principal Jeff Brice and his team join Hub Carolinas, the firm’s regional business unit serving both North and South Carolina.
Hub Carolinas President Tommy Suggs highlighted the importance of this move, stating that the Myrtle Beach market is now even more strategic for Hub’s growth, particularly with the addition of a seasoned and professional team from Tilghman Insurance of Myrtle Beach.
Why is the Myrtle Beach acquisition strategically important for Hub International Limited?
The acquisition underscores Hub International Limited’s interest in strengthening its position in high-growth, high-visibility markets along the U.S. East Coast. Myrtle Beach, part of South Carolina’s Grand Strand, is not only a major tourism destination but also a growing hub for small businesses, real estate, and service industries—all of which present opportunities for both commercial and personal insurance products.
Tilghman Insurance of Myrtle Beach has built a solid reputation in the area by providing tailored insurance solutions to individuals, families, and enterprises. By integrating this local expertise into Hub’s national and international platform, the brokerage gains an immediate client base and deep community ties, while Tilghman clients gain access to a broader suite of insurance, risk management, and financial services.
How does the acquisition align with Hub International Limited’s growth model?
Hub International Limited operates on a growth strategy that blends organic expansion with targeted acquisitions. This approach enables the brokerage to rapidly scale its regional presence while maintaining strong relationships in local markets.
The integration of Tilghman Insurance of Myrtle Beach into Hub Carolinas aligns with this model, as it adds both talent and market knowledge without diluting the local character of the acquired business. Jeff Brice noted that joining Hub was “a good choice” because the firm, despite its size, values its employees, clients, and communities. This sentiment reflects Hub’s broader acquisition philosophy of preserving the strengths of local agencies while leveraging corporate resources to enhance client offerings.
What does this mean for clients in the Grand Strand region?
For existing clients of Tilghman Insurance of Myrtle Beach, the immediate expectation is business continuity, as the same team will remain in place under Hub’s regional management. The change could also bring expanded product offerings and more robust risk management services.
Hub International Limited’s resources include access to specialized insurance programs, advanced risk analytics, employee benefits consulting, and wealth management services. For small and medium-sized businesses in Myrtle Beach, this could translate into more comprehensive coverage options and strategic advice on managing complex risks.
What is the broader market context for this acquisition?
The U.S. insurance brokerage industry has seen ongoing consolidation, with national and global brokers acquiring well-established regional agencies to strengthen their competitive positioning. Hub International Limited has been an active participant in this trend, regularly adding agencies to its network across North America.
Myrtle Beach represents a particularly attractive market given its steady population growth, strong tourism economy, and expanding base of commercial enterprises. For Hub Carolinas, increasing its penetration in such a market can offer both near-term revenue potential and long-term client loyalty.
Tilghman Insurance of Myrtle Beach’s decade-long track record offers Hub a platform to deepen relationships in coastal South Carolina while also positioning the brokerage to cross-sell services across personal, commercial, and specialty insurance lines.
How does this move fit into Hub Carolinas’ regional strategy?
Hub Carolinas has been steadily building its footprint across North and South Carolina. By adding a presence in Myrtle Beach, the firm gains a base in a high-visibility area that complements its existing operations in the region.
Tommy Suggs emphasized the value of the Tilghman team, pointing out that their professional expertise and established community presence will strengthen Hub’s overall regional network. The addition of Myrtle Beach also bridges geographic gaps, allowing Hub Carolinas to serve clients more seamlessly along the coastal corridor.
What future growth opportunities could Hub International Limited unlock through the integration of Tilghman Insurance of Myrtle Beach into Hub Carolinas?
While specific operational plans have not been disclosed, the integration offers several potential benefits. Hub could leverage its national carrier relationships to negotiate competitive rates and enhanced coverage options for Myrtle Beach clients. There may also be opportunities to introduce new service lines, such as cyber liability insurance for local businesses or expanded life and health insurance options for individuals.
The acquisition also reinforces Hub’s ability to attract talent by demonstrating a commitment to investing in key markets and maintaining a strong local presence. For Tilghman employees, joining a larger organization could mean access to advanced tools, training programs, and career development opportunities.
How is the insurance brokerage sector outlook in 2022 shaping the strategic implications of Hub International Limited’s Tilghman Insurance of Myrtle Beach acquisition?
As of September 2022, the U.S. insurance brokerage sector remains competitive but continues to benefit from steady demand for risk management solutions, particularly as businesses and individuals navigate inflationary pressures, supply chain challenges, and evolving liability exposures.
Hub International Limited’s acquisition of Tilghman Insurance of Myrtle Beach reflects the ongoing importance of local market expertise in an industry increasingly shaped by consolidation. For clients in the Grand Strand, the move could bring the best of both worlds—local familiarity combined with global resources.
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