Glencairn acquired by Hilb Rogal & Hobbs
Hilb Rogal & Hobbs (HRH) has signed a definitive agreement to acquire the stock of Glencairn, an independent Lloyd’s insurance and reinsurance broker group.
The purchase price will be financed through HRH’s existing revolving credit facility on January 2, 2007. The agreement has been approved by the Financial Services Authority.
Glencairn has over 150 employees in London and has offices in South Africa, Russia and Australia and revenues for 2006 are expected to top £20m. Glencairn operates largely in property, casualty, reinsurance, financial, professional, accident & health, and specialty, including political risks and cargo, through both wholesale
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