Archive for Monday, June 23, 2008
HRH in Lawrence part of $2.1 billion insurance buyout
June 23, 2008, 11:10 a.m. Updated June 23, 2008, 11:06 p.m.
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HRH, which bought longtime Lawrence insurance firm Charlton Manley a year ago, is being acquired itself.
Virginia-based HRH - that's for Hilb Rogal & Hobbs Co. - is being purchased by Willis Group Holdings Ltd., a London-based broker that develops and delivers insurance, reinsurance, risk management, actuarial services, and financial and human resource consulting to corporations, public entities and institutions worldwide.
The $2.1 billion deal is expected to close by the end of the year. The combined North American operation will be known as Willis HRH.
"We're still a global company with local delivery," said Duane Becker, president of the HRH operations based in Lawrence, whose employment levels and services will not change under Willis HRH. "We're still delivering our products and services locally, and we'll continue to."
HRH works to help its clients manage risks in property and casualty, employee benefits, professional liability and other areas of specialized exposure.
The company also offers personal and corporate financial products and services.
The Lawrence operation, Becker said, plans to continue its focus on providing coverage for construction, medical professional liability, truckers' liability, schools and athletic programs.
HRH has more than 140 offices, including the one at 211 E. Eighth St. in Lawrence. HRH also has operations in Topeka, Overland Park and Wichita.
Last June, HRH announced that it was buying Charlton Manley, which at the time had 70 employees spread out among three offices, including 45 employees in Lawrence.
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23 June 2008
at 12:50 p.m.
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geniusmannumber1 (Anonymous) says…
But…but…on the radio ad they were still running as of last week Charlton Manley was still claiming to be locally owned? I can't resolve this contradiction. Advertising…is misleading?
23 June 2008
at 3:06 p.m.
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Raider (Anonymous) says…
I like the way they also make it sound like the company is based here. It's a sales office. Just like American Family, Shelter, and all of the other commission-based reps.