CBIZ Buys Virginia-based Brokerage

BI - July 9, 2020 - CBIZ Inc. has acquired Woodbridge, Virginia-based Prince-Wood Insurance LLC, the financial services firm said Wednesday.

Terms of the deal were not disclosed.

Prince-Wood has seven employees, about $1.2 million in annual revenue and places property/casualty coverage for small and mid-sized businesses in northern and central Virginia, Maryland and Washington, Cleveland-based CBIZ said in a statement.

CBIZ’s insurance brokerage unit is the 20th largest brokerage of U.S. business, according to Business Insurance’s most recent ranking. The 2020 ranking will be published on July 13.