The Hilb Group, an American property and casualty and employee benefits insurance brokerage, said that it has acquired Oak Ridge Surety Agency based in Pennsylvania for an undisclosed price.

The acquisition will help the Carlyle Group-backed Hilb Group to further expand its footprint in the Mid-Atlantic region and consolidate its surety specialty and expertise.

Oak Ridge Surety Agency, which is headquartered in West Chester, is engaged in providing its customers with competitive surety bond programs and commercial insurance options.

Ricky Spiro — Hilb Group CEO said: “We are pleased to welcome Oak Ridge Surety Agency to Hilb Group and together to draw from their trusted market presence and expertise.

“This addition represents a strong complement to our client offerings and an ideal fit for our growth strategy.”

According to Hilb Group, Martin Hellman along with his team of insurance professionals will join its Mid-Atlantic regional operations.

Martin Hellman said: “Our team is excited to join Hilb Group. This partnership allows us to maintain the strength of our local connections, while enhancing the resources and offerings we can provide to our clients now and in the future.”

  Carlyle Group, Insurance acquisition news, Insurance industry news, Martin Hellman, Oak Ridge Surety Agency, Pennsylvania, Ricky Spiro, The Carlyle Group, The Hilb Group, West Chester