Bridgepoint-backed HBC Group completed the acquisition of UMBERIO and four other regionally based brokerage firms.

Bridgepoint-backed HBC Group, a major insurance distribution group, completed the acquisition of UMBERIO, an Austrian company that operates as a major network and umbrella organization for independent insurance brokers, and four other regionally based brokerage firms, including Schwentner & Partner, Woglar, Lederer, and Jaegerhofer. Financial terms were not disclosed. "We look forward to working with the UMBERIO team and its affiliated partner companies to further develop the Austrian market and establish the HBC brand as a reliable partner here too," Gert Schlossmacher, HBC Group CEO.