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Hilb Group
Overview
Hilb Group is a United States-based company operating within the insurance sector, specifically in property and casualty insurance, as well as broader financial services. Founded in 2009, the company has grown to employ between 1,001 and 5,000 individuals and reported revenues of approximately $620 million. The company’s recent published document, a market outlook for 2024, indicates a significant shift in the insurance landscape, with a consensus that substantial rate increases experienced in previous years are unlikely to continue. However, the document notes that while major premium hikes may be behind the industry, clients should not expect rate decreases in the near future. The outlook highlights ongoing challenges such as underwriting losses, climate change, cybercrime, and social inflation, which are contributing to a need for insurers to ensure rate adequacy. Insurers are increasingly focusing on loss control measures, reflecting a shift in strategy to mitigate risk in a changing marketplace.