Richmond, Va.-based insurance broker Hilb, Rogal & Hobbs Company said it plans to acquire The Urman Company, a Denver-based retail employee benefits and property-casualty brokerage. Terms of the deal were not released.
The transaction is expected to close on June 1.
Founded in 1970 as a brokerage for the insurance needs of school executives and for the employee benefits plans for Colorado school districts, the current incarnation of the firm was formed by its current chief executive officer and owner, Frank Urman, in 1988.
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