Hilb Rogal & Hobbs Company announced late yesterday that it has completed a previously-announced acquisition of Cleveland-based Loan Protector Insurance Services. Terms of the transaction were not disclosed. Loan Protector Insurance Services, a leading provider of customized insurance tracking programs and lender-placed insurance products to the mortgage industry, expects revenues of approximately $8 million for 2006.
Servicing a niche community of banks, savings and loan organizations, credit unions and mortgage companies, Loan Protector’s President, Ronald F. Wiser, and his team will continue to work from their Cleveland office under their existing management. They will become part of HRH’s Mid-Atlantic Region, led by HRH’s Mid-Atlantic Regional Director Steven C. Deal. Hilb Rogal & Hobbs Company is the eighth largest insurance intermediary in the United States, with over 120 offices throughout the United States and London.