Hilb, Rogal & Hamilton Acquires Beverly Hills Agency

Hilb, Rogal & Hamilton Co. has acquired the majority of the operating assets of LFC Insurance Agents & Brokers Inc. of Beverly Hills, Calif.

LFC has annual revenues more than $1 million and provides property & casualty insurance and risk-management services to clients, including many nonprofit organizations.

Last month, Hilb, Rogal credited a 64.7 percent increase in fourth-quarter net income to acquisitions and divestitures, new business production and firming of pricing. Net income rose to $7 million, or 23 cents a share, from $4.3 million, or 15 cents a share, in the fourth quarter of 2000, the company said. Total revenue increased 29.6 percent to $87 million, up from $67.1 million a year earlier, led by substantial acquisition activity over the past year and organic growth, according to the company.