Carlyle Group-backed Hilb Group completed the acquisition of Oak Ridge Surety Agency.

Carlyle Group-backed Hilb Group, a property and casualty and employee benefits insurance brokerage and advisory firm, completed the acquisition of Oak Ridge Surety Agency, a company specializes in providing competitive surety bond programs and commercial insurance options to its customers. Financial terms were not disclosed. "We are pleased to welcome Oak Ridge Surety Agency to Hilb Group and together to draw from their trusted market presence and expertise. This addition represents a strong complement to our client offerings and an ideal fit for our growth strategy," Ricky Spiro, Hilb Group CEO.